spiorf

12 ms·

91.
by spiorf 9y ago
If i carry a pocket knife, would you call me stabber? "anonymous monetary transfer of arbitrary size/value" is the knife, money laundering is the stabbing.
92.
by spiorf 9y ago
I can even apply gravity laws here: what goes up must come down. Except when in orbit...
93.
by spiorf 9y ago
2 of 3 multisig. Now the thief has to compromise two sites, at the same time. Or password protect the seed. Or both.
94.
by spiorf 9y ago
The irony is strong here. You need walled gardena because walled gardena protect people from dangerous software. Posted as a comment in a news about dangerous software found in a walled garden.
95.
by spiorf 9y ago
This is starting to look like the bitcoin obituaries situation.
96.
by spiorf 9y ago
So you have a guy with a proven track record of companies that manage to make products that 15 years ago were thought to be impossible to make, that is personally invested in those companies, that does so with a clear intention of bringing
97.
by spiorf 9y ago
Being your own bank comes with some responsibility. Gold can be stolen, gold can be lost. You can hide your gold in the woods, and forget the location. Also paper money can rot and can burn. If i memorize my bitcoin seed, my brain is in fac
98.
by spiorf 9y ago
Are you questioning AI BIG DATA CLOUD BLOCKCHAIN???
99.
by spiorf 9y ago
Yes, but the hashing of the merkle tree to obtain the merkle root takes like 10^4 hashes for 10^3 transactions. Compared with 2^80 that is about the number of hash operations needed to find a POW block header, it it trascurable.
100.
by spiorf 9y ago
Lightning network allows trustless instant and low fee payments. It is at the embrional stage yet, and the whole structure has yet to be defined, but the point to point protocol for trustless off-chain instant transactions is ready.
101.
by spiorf 9y ago
But there is no known function that has these properties and is useful in real world.
102.
by spiorf 9y ago
At least until/if Ligtning networks is proved to work.
103.
by spiorf 9y ago
Think about the energy expended to take that gold out of earth. And to make the chemicals for extractions....
104.
by spiorf 9y ago
I repeat, you got it very wrong. Transaction number is not correlated with mining energy expenditure. Mining is used to secure the ledger in a way that the same amount of energy is needed to alter it. The block hash begins with a number of
105.
by spiorf 9y ago
The problem with POS is that you do not have a mathematical guarantee of immutability. It costs nothing to try to stake on different blocks, and every counter-measure relies on the fact that the network is not partitioned. This would be fat
106.
by spiorf 9y ago
The energy expended is the security of the currency. If a transaction is confirmed by 1 TWh of proof of work, that much energy is required to alter it, meanwhile the bitcoin network has expended even more energy. It is still young, and the
107.
by spiorf 9y ago
This is very wrong. It does not work that way at all. Volume or value of transactions has nothing to do with the energy expended. The energy is needed to calculate a mathematic proof that makes sure your transaction cannot be reversed or ta
108.
by spiorf 9y ago
The energy expended is a guarantee of security and immutability. The fact that real world energy is expended is the thermodynamic guarantee of the irreversibility of a transaction. If you have access to the VISA database, and change somethi
109.
by spiorf 9y ago
It's nice and simple, but why no https? right now anybody on the same network could modify the code in transit to make it send the private keys somewhere. And i would make the online page a demo, with a mandatory "download and run
110.
by spiorf 9y ago
You can't have a bluetooth serial adapter on the iphone, because it only supports a few bluetooth profiles. This cuts a lot of complexity.
111.
by spiorf 9y ago
> Starts sounding like a government that enforces contracts, so that's not entirely new :) The difference is that you can cryptographically verify the correctness of the enforced contract. You don't "Trust", you &quot