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That sounds like an ad-hominem attack to avoid the question, tbh.
At the risk of sounding snarky: It wasn’t. It does however, answer the question. “We” do not need to change our allocation strategy whatsoever because “we” didn’t allocate any resources towards this and “we” aren’t the arbiter of what others can or cannot do with their resources.
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Am I correct in assuming that beyond a certain point, this is basically an existence proof for somebody having a quantum-supreme solution to Shor's Algorithm? "Here's $400,000 sitting on the table, hope nobody takes it" which triggers an alarm telling us to replace all our old prequantum cryptography.
Or someone "just" finding a fault in the cryptographic algorithms used in Bitcoin. Or whoever created the puzzles leaking their information.
Or getting hacked. This is super common among people who are known to have high value wallets. Between physical attacks and zero days in everyday software, there's no chance to stay safe when you put that kind of target on your back.
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Or someone "just" finding a fault in the cryptographic algorithms used in Bitcoin. Or whoever created the puzzles leaking their information.
>Or whoever created the puzzles leaking their information. Or getting hacked. This is super common among people who are known to have high value wallets. Between physical attacks and zero days in everyday software, there's no chance to stay safe when you put that kind of target on your back.
What category of taxable income would this be in the US?
What category of taxable income would this be in the US?
IANAL, etc.
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Or someone "just" finding a fault in the cryptographic algorithms used in Bitcoin. Or whoever created the puzzles leaking their information.
>Or whoever created the puzzles leaking their information. Or getting hacked. This is super common among people who are known to have high value wallets. Between physical attacks and zero days in everyday software, there's no chance to stay safe when you put that kind of target on your back.
Vitalik Buterin seems to be a counter example here, his net worth peaked around $1.46 billion. He has some interesting writing on how he stays secure. At one point the SHIBA token sent a huge amount of funds to his cold wallet and he details what he did to securely access those funds:
https://decrypt.co/91000/ethereum-founder-vitalik-buterin-du...
> The funds, he said, were initially in a cold wallet in the form of two numbers written on separate pieces of paper. Buterin said he had to combine the two numbers to get the private key. "One of those numbers was with me; the other number was with my family in Canada," he said. "So I had to call up my family in Canada and tell them to read their number to me."
> Buterin said that he entered the numbers into the computer he purchased from Target after putting the two numbers together. "I sent my ETH out by generating a transaction and then on a computer that I bought from Tarjay [Target] for about $300 bucks for just this purpose."
> Before disconnecting the laptop from the internet entirely, Buterin said he downloaded a program to generate QR codes. After generating the Ethereum transaction, he scanned the QR code with his phone, copied it to the laptop, and then put it into etherscan.io/push Tx. Finally, Buterin said he began sending out the tokens.
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I had the same reaction. Isn't Bitcoin wasting enough energy as it is?
What if it’s 100% green energy? Is it a waste?
Which as a whole is very limited scenario.
Is there something unique or special about the private keys that are guessed? This seems like an incredibly wasteful allocation of compute (which wouldn’t be surprising given that it’s bitcoin but still)
controlled arms race to improve things on both sides and it doubles as a canary.
> https://bitcointalk.org/index.php?topic=1306983.msg64535839#...
I'm not super familiar with the concept (and I'm too lazy to look into it TBH), but I think the would-be winner posted the private key before enough (any?) blocks were mined, and the thief posted a transaction with a bigger fee, and the thief's transaction was in the block that got mined.