How to Mix Bitcoins and Send Bitcoin Anonymously - Comparitech

Will bitcoin be default the privacy feature in the future?

https://www.fatf-gafi.org/publications/fatfrecommendations/documents/virtual-assets-red-flag-indicators.html
Today FATF announced a new regulatory recommendation. It contains recommendations to include p2p transactions, transactions with non kyc exchanges, privacy coins, unhosted private wallets and mixers as red flags.
FATF is a pet kept by the US gov. In other words, FATF's recommendations become the worldwide AML standard. To say that it is are 'risky' is the same as saying to ban it.
The future of privacy is dark. We can use coinjoin, payjoin, or privacy-focused alt, but it will get harder and harder. This is because the modern AML mechanism works in a bizarre way of thinking that "nothing to hide nothing to fear so no need privacy". Governments are not interested in anything other than completely eliminating financial privacy and expanding mass surveillance.
To solve this, I think bitcoin will someday need to set the anonymous transfer feature as default. Mixing, zero-knowledge proof, coinswap, ringCT... whatever, to make sure that traders are not considered potential criminals just to use the privacy protocol.
If Bitcoin is widely accepted then now, it will be difficult for the government to ban it even if privacy is default. Many traders will rebel, and the source code cannot be interfere because it belongs to the freedom of speech.
Some will worry that this idea will be abused in crime. But tracking criminals is a government''s 'job'. Already, the government is doing a lot of research on it. At the same time, it is also the government's duty to protect our privacy. If someone abuses technology, government have to figure out how to track it down, and it's not the right way to stop ordinary people from using privacy protocols.
Already, the government is putting bitcoin traders under mass surveillance. If they don't trust us so don't respect our basic rights, we don't have to be 100% obedient to their big-brother dream. We must have the real power to protect our own privacy.
What do you think about this opinion? Anyway, I believe bitcoin needs better privacy and fungibility as a default.
submitted by subarun7 to Bitcoin [link] [comments]

0xMonero, summary of findings

Edit: There was prior work by Artemiscult I didn't know about from a month ago!
Hi, this is a summary of my findings on 0xMonero, which claims to be "a mineable privacy focused project".
The contract was deployed on April 18th of this year, verified on Etherscan the same day, announced on Twitter soon after. It was announced on Bitcoin Talk about ten days later. 0xMonero's contract is an uncredited rip of 0xBitcoin's with only very small changes. The mining software recommended by 0xMonero was written for 0xBitcoin. There are two other more modern miners written for 0xBitcoin, but up until recently, they have only supported pool mining, not solo. My suspicion for why 0xMonero recommends the older miner is that they don't have anyone competent to run a mining pool.
Here's 0xMonero's stats page, and here's 0xBitcoin's. Look familiar? 0x1d00ffff wrote that page for 0xBitcoin about a month after the 0xBitcoin project started in February 2018. Here's the initial commit, and here are the changes 0xMonero made. When 0xMonero ripped it, at least they left the author's Etherscan link at the bottom.
Here's 0xMonero's official GitHub. As of now, there are 20 repos, but they are all forks, zero original repos. I've been told that 0xMonero has ten developers. When I asked to see their GitHub accounts, I was told that they were all too concerned with privacy. That doesn't make sense to me, since I've been doing anonymous development under various identities for years. Here's the account associated with my work for 0xBitcoin, and here's another project I work on with other anonymous developers.
Why does 0xMonero make reference to Monero? I don't know. As far as I can tell, 0xMonero has nothing to do with Monero. I can say with certainty that since 0xMonero's contract is an almost identical copy of 0xBitcoin's, and 0xBitcoin deliberately did not include privacy features, there are no privacy features in the 0xMonero contract. They would have to be elsewhere. But as far as I know, there is no other code to look at.
Here's a piece-by-piece analysis of the claims on 0xMonero's site:
Here's a thread started by DigitalInvestments2 who claims to be a top holder of 0xMonero. In that thread, I asked many direct questions, and was not able to receive any clarification or substantiation of any aspect of what 0xMonero says they are working on.
When I couldn't get answers in that thread, I reached out twice to the official 0xMonero Twitter account asking them to start a thread where it would be possible to get answers. I got blocked. At the same time, I was blocked by another related Twitter account. Here's that account lying about 0xMonero's (nonexistent) privacy features.
I started talking about this stuff on 0xMonero's Bitcoin Talk thread about a week ago. I have been unable to get any answers there, either. But someone in that thread reported me. For what, I don't know.
I think that's it for what I know about 0xMonero at the moment. Please let me know what you think. Thanks.
Edit: Here's that related Twitter account lying about 0xMonero's nonexistent privacy features again.
Edit: lying about 0xMonero's nonexistent privacy features again, and AGAIN. Suggesting to people that 0xMonero is somehow private is dangerous.
Edit: ... lying about privacy again.
Edit: agreement about 0xMonero most likely being a complete scam from a second source: https://twitter.com/CryptoScamCases/status/1292753105097031680
Edit: lying about privacy again. Noticing a trend with 0xMonero and lying?
submitted by 0xBrian to CryptoMoonShots [link] [comments]

Let's discuss some of the issues with Nano

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly. Similar to TCP/IP, email servers, and http servers. Just like Bitcoin full nodes.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
Obviously there is still a lot of work to be done in some areas, but overall I think Nano is a good place. For people that aren't Nano fans, what are your biggest concerns?
submitted by Qwahzi to CryptoCurrency [link] [comments]

What are Nano's biggest issues? Let's talk about it!

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
submitted by Qwahzi to nanocurrency [link] [comments]

Decred - Our Network #3 (27-Feb-2020)

Decred - Our Network #3 (27-Feb-2020)
The Our Network newsletter is an industry wide publication driven by community members with a focus for on-chain data and behaviour of crypto-networks. Decred is featured once a month alongside other L1 networks Bitcoin, Ethereum, ZCash and Tezos.
https://ournetwork.substack.com/about?utm_source=subscribe_email&utm_content=learn_more

Insight 1 - Tickets and PoW Issuance

Decred has three issuance paths for new coins, 60% are mined via PoW, 30% are staked by PoS and 10% allocated to the Decred Treasury. The chart below shows these issuance curves alongside the total DCR bound in tickets (Y-axis is proportion of circulating supply).
It shows a very distinct relationship between DCR in tickets (blue) and PoW issuance (red). This suggests that a majority of coins distributed by miners have been purchased by market participants and make their way off exchanges and into staking. This trend has persisted both before and after ASIC miners launched on the network and is one indicator that DCR has a reasonable and fair vote decentralisation.
Decred PoW (red), PoS (purple) and Treasury (yellow) issuance compared to DCR in ticket

Insight 2 - Privacy Update

The Decred privacy implementation has been live since late August 2019 and has been met with strong reception and usage. The system facilitates coin-join mixing using the CoinShuffle++ protocol, combined with the constant flow of DCR in the PoS ticket pool.
The supply of mixed DCR has resumed its uptrend after rolling out further stability upgrades for the mixing server allowing wider participation. The anonymity set is now over 19% of all circulating Decred UTXOs (2,113,530 DCR). Note, this counts all mixed UTXOs (incl. tickets) which have not been spent since the mix.
Total supply of DCR and current anonymity set

Insight 3 - Privacy Mixer Volume

Current volumes passing through Decred coin-joins are consistently between 50,000 and 100,000 DCR per day. At recent prices of $20, the protocol is mixing between $1 to $2 Million in value per day. On the 22-Feb, a new all time high was hit with 154,223 DCR in mixed volume, equivalent to over $3 Million.
The fee for mixing is just a standard blockchain transaction fee for users, meaning each mix can completed for a few cents.
Decred daily privacy mix volumes.

Insight 4 - The MVRV Ratio

The Decred MVRV Ratio shows the relationship between the Market Cap and the Realised Cap. Since DCR is always moving on-chain in tickets, the Realised Cap tends to act as support in Bullish markets and resistance in Bear markets.
The DCR Market Cap has recently broken above the Realised Cap and the MVRV Ratio is retesting support on the trend-line which has contained it since mid 2017. The author expects the MVRV to act as an oscillator in response to Bull/Bear cycles.
The Decred MVRV Ratio

Insight 5 - Throughput Thermometer

The Throughput Thermometer compares on-chain throughput between two assets and adjusts for outstanding supply in order to ensure an apples-to-apples comparison is made. This tool is best used to gauge macro bullishness or bearishness.
When the thermometer is trending upwards, Decred on-chain flows are increasing versus Bitcoin flows pound-for-pound, which generally is paired with an uptrend DCBTC price (and vice-versa).
The chart below shows that over the past 142 days, Decred has settled 20% more native units on-chain relative to Bitcoin when adjusted for supply - an all time high for the Decred network. Note this is influenced by both increased DCR flows and reduced BTC flows.
The Throughput Thermometer, showing relative on-chain flow between BTC and DCR over 142 days

Insight 6 - v7 Consensus Vote

Decred has just completed the v7 consensus change vote which has passed with 99.94% approval. This consensus change upgrades the Decred block headers to enhance SPV wallet security, and optimise the process for PoW miners to include PoS votes. This will lead to fewer missed tickets due to network latency and provide both stakers and miners with more reliable block reward income.
An interesting trend has developed around all consensus change votes so far whereby stake participation rate increases during the vote, and cools-off following it. After the v7 consensus vote completed, the stake participation rate dipped from 52% to 48% of circulating DCR, before bouncing back to XX%. EDIT ON THURS
DCR stake participation rate around consensus votes(note, vertical lines are time when code was added for upgrade, not start of vote itself.)
submitted by __checkmatey__ to decred [link] [comments]

After the Bitcoin crash: do others fear me for greed?

At 6:30 pm on March 12, Bitcoin dropped from $ 7211 to $ 5555.55. The bitcoin price dived again this morning, slumping nearly $ 2,000 again in half an hour, the lowest fell to $ 3,782.13, a drop of more than 40% in 24 hours. According to the data of the contract emperor, only Huobi, OKEx, Binance, and BitMEX exchanges had a daily short position of 3.133 billion US dollars, which reached the highest in a single day in history. The number of liquidated positions exceeded 110,000, which was also the highest in a single day.
Also on March 12, the S & P index fell 260.74 points, triggering the fusing mechanism for the second time this week. The Dow hit its largest decline in history, at 2352.6 points. The Nasdaq fell 750.25 points to 7201.8 points. This is the third time in the history of US stocks. This fuse has been 33 years since the first fuse, but only 4 days have passed since the last fuse. Buffett shouted, "I only lived this way in 89 years." It is reported that Buffett lost $ 6.8 billion last night.
According to incomplete statistics, with the exception of the United States, the stock markets of 11 countries including Canada, Mexico, Japan, South Korea, Thailand, India, the Philippines, Indonesia, Brazil, and Pakistan plummeted. The five largest US technology companies, Apple, Amazon, Google, Facebook, and Microsoft, had a cumulative market value of $ 416.63 billion. The Bloomberg Billionaires Index shows that the top 15 richest people in the world lost a total of $ 46.4 billion.
Market panic or pullback demand? Regarding the meltdown of U.S. stocks this week, Yang Delong, chief economist of Qianhai Open Source Fund, believes that the spread of the epidemic is not the main reason. It is more a decade of bull market for U.S. stocks. Some factors driving the rise of U.S. stocks are quietly changing, such as the Federal Reserve ’s interest rate There is not much space. Regarding this crazy drop in Bitcoin, Apocalypse Capital told InfoQ that there are two main reasons for this drop in Bitcoin: on the one hand, the bearish demand caused by the expected global economic downturn, and on the other hand, Bitcoin Callback requirements themselves.
As we all know, Bitcoin will be halved in the second half of the year, but the trading market pays attention to speculation expectations. This round of rise has essentially halved the market. After hitting a high of 10500, Bitcoin is facing a callback demand. Of course, this round of downtrends is so rapid and there are only a handful of recurrences in the history of Bitcoin, which are inextricably linked to the decline in global stock markets, both of which are the result of expectations of a bearish global economy.
However, Johnson Xu, chief analyst of TokenInsight, told InfoQ that the Bitcoin dip was mainly due to market panic, because some market participants bought bitcoins by buying mining machines, borrowing, etc., and expected to reduce their expectations by half. A linkage effect caused by everyone being too optimistic about the market.
The market is overhyped because Bitcoin is halved, and some market participants are afraid to miss the opportunity to enter the market irrationally. The current market slump is driven by strong irrational behavior, which translates into a rapid downside response and quickly depletes market buyers' liquidity (flattening down). When the overall financial market panic or other unexpected events are caused by the New Crown virus and the global economic slowdown, market participants often seek to withdraw assets such as stocks and bitcoins and convert these assets into cash (cash is king). So has the recent gold sell-off.
When the market panics, people ask for cash in the beginning instead of investing in safe-haven assets such as gold. At the same time, because gold is considered a high-quality asset, investors usually start with liquidity crunch and market panic. Cash in on good assets (because inferior assets are more difficult to sell in panic times). The Bitcoin crash this time has a certain connection with the decline in global stock markets, because the entire financial market is a globalized market, and there is more or less linkage between each asset.
In addition, Forbes speculated that it may be because PlusToken scammers transferred bitcoins worth more than 100 million US dollars to the mixer, and then sold bitcoins, resulting in rising market supply.

Other people are greedy, I am afraid, others are afraid of me, greedy? In this case, should investors still expect "halving the market"? Johnson Xu believes that there is no such thing as a "half quotation", and most market participants are too optimistic about the halving of Bitcoin. Price fluctuations are not necessarily caused by halving, but may be caused by the sum of other factors. When everyone is saying that they are optimistic about the market, the existence of risk is ignored in the subconscious. At this time, the risk will be actually reflected, and the upside will gradually shrink. Bitcoin halving was written into the code, and it was not an accident. Bitcoin should be halved in a rational way. It is worth looking forward to, but not overly interpreting and speculation.
However, Tianqi Capital believes that this plunge is a callback period for bitcoin's halving of the market, and each round of sharp decline also indicates the opportunity of the market outlook: cheap chips will be hoarded, waiting for the next wave of hype and explosion. Therefore, Tianqi Capital still believes that the market outlook of Bitcoin is worth looking forward to, provided that it is not frightened by the current fierce washing of the chips, after all, when the bear market is the worst, it is also when gold is everywhere.
Regarding the future trend of Bitcoin, Apocalypse Capital stated that it should judge according to the current trend.
In this round of market, Apocalypse Capital initially chose to follow the downward trend of May 18, and Bitcoin has gradually dropped from a high of 10,000 to 3150 points, so the big support level predicted by this round happens to be 3700 today. Near the point. Data monitoring shows that some funds are involved in this price range. But whether it can hold on to this support remains to be tested. If the 3700 support cannot be maintained, it is very likely that it will hit the US $ 2000 level. Tianqi Capital believes that this is the market's last line of defense. Long-term investment is recommended to buy some relatively stable targets, such as BTC, ETH, etc. The bear market will eliminate many currencies, but if it survives, it will shine in the next round.
Johnson Xu believes that the plunge is also a test to promote the healthy development of the industry. Extreme market is a test for the entire industry, especially for infrastructure, risk management, etc., so it is still optimistic and supports the development of the industry for a long time.
For current investors, Johnson Xu offers the following suggestions:
  1. Other people are greedy, I am afraid, others are afraid of me, greedy.
  2. Global financial markets have also undergone major changes. From the data point of view, I don't think Bitcoin has the attributes of a safe-haven asset, but this market can test whether Bitcoin has a certain risk-avoidance capability. This is a global world. We need to analyze various markets, not just the digital asset market.
  3. In the long run, we are still optimistic about the digital asset industry.
Does Bitcoin have a fusing mechanism? On March 9, after the U.S. stock market crash triggered the fusing mechanism, the market began a discussion of "whether Bitcoin should set up a fusing mechanism". But at present, most people are not optimistic about the Bitcoin fusing mechanism. OKEx CEO Jay Hao said that the fusing mechanism is difficult to implement in the digital currency market. In the face of a highly volatile market, setting the fuse point is a difficult problem. At the same time, for a 7 * 24h market, when a certain exchange breaks down, the price difference between the digital currencies between the platforms will increase, leading to arbitrage, and the fuse mechanism will eventually become a decoration.
Du Wan, the co-founder of Contract Emperor, also said that it is unrealistic to use a fuse mechanism in the currency circle. The fusing mechanism first violates the original intention of the decentralization of the blockchain, and at the same time, it will touch the interests of the top of the currency circle ecological chain. For example, large trading teams can no longer use pins to obtain large profits. When the market is panic, exchanges with a fuse mechanism may lose traffic to exchanges without a fuse mechanism because of the run effect of traders.
It can be seen that the current risk aversion measures in the traditional stock market are difficult to transfer to the fickle currency market in a short time, and the regulation of this market still has a long way to go. Investors should still be cautious when investing.
submitted by FmzQuant to u/FmzQuant [link] [comments]

Apex Web Wallet / Exchange - Commercial Grade - Open Source

Decided to go ahead and open source all bitcoin / crypto packages. It's basically the Envrin Web Wallet at: https://envrin.com/web_wallet for a feature list.
You can view full details including installation instructions at: https://apex-platform.org/repo/package/bitcoin
It's developed on the APex platform, an open source PHP based software platform, and you may view full details on that at: https://apex-platform.org/
Quality, commercial grade bitcoin web wallet now open sourced. You can easily start your own wallet, offer it to your users, allow users to buy / sell coins via fiat through your site, collect fees, etc. Have fun, please share, and let me know if you have any questions / issues with anything.
Happy to develop more and keep this project going, such as merchant services gateway, traditional exchange, P2P exchange ala Localbitcoins, marketplace, coin mixer, ECR20, and others. Actually have a good number of the packages already done, but they are still on the legacy software platform, and just need to be ported over to Apex. If you'd like to see additional bitcoin / crypto-currency packages from Apex and open sourced, please donate to: 3BzATZd1Gk8ten8L46n1bCqNkCrp32jv7Y
If you're a developed, it's an open source project, so please feel free to jump in and help contribute. You can ping me anytime via e-mail at [email protected].
PS. Oh, and before this starts... don't start screaming scammer / thief, because a) no, there's no malicious code, and b) it's open source, so if you don't believe me, go look at the code yourself.
submitted by Envrin to btc [link] [comments]

Life and survival guide for Brazilian comrades.

"I believe in planning for the worst, while hoping the best. I hope that none of you will be in danger, and that no one you know and care about is in danger.
PRACTICAL THINGS TO DO RIGHT OW
1: get a VPN that has servers that the brazilian government can't subpoena. delete your social media accounts that you've used that have leftist and pro PT stuff on them. Make sure that going forward nothing is traceable to you. Any new media accounts you have that are political must be tied to a dummy email account.
2: if you have the means, keep a stash of money in a very safe place that's hidden but accessible. If the worst happens and you ever have to leave the country, you'll need bribe money. You'll need documents and authoritarian regimes don't always make it easy for certain people to get them. also keep a few gold rings hidden too. They're valuable everywhere you might end up.
3: get a passport now. get all those documents now. even if you don't plan to leave, get them right fucking now so you can be processed elsewhere and you'll be let on a flight if you need to go before the option might vanish. Keep copies in a bank box if your country's banks are reliable. Keep digital scans in an encrypted thumb drive. The digital scans can be used to get real copies at a brazilian embassy or consulate if your government is willing to still provide them to you.
4: if you take medication, keep careful track of your prescriptions. Always make sure that you have a 2 month supply that you can take with you. You might not be able to get the exact same meds in another country due to differences in regulatory approval for certain active ingredients and their approved applications, and it might take time to get a replacement drug in a host country.
MENTAL HEALTH
You're scared and angry. Maybe not necessarily for yourself even, but for others. That's good. That means you're still sane. That also means you're feeling a lot of alienation because you're surrounded by people who see nothing wrong with what is going on around you. It will get worse. That feeling will grow and fester. If you have empathy, you can never turn it off completely. You will feel like a stranger in your own country until this is over. Already you and people you care about have been demonized. Loan wolves, groups, and the state may all act on that demonization. Right now you may not even be sure what you can do and if you should even try to do anything. That's normal. But you have until January to decide what you do, and if you become a private person to try to protect your own safety, or if you decide to stay and become a public person to help others and yourself. If you can't be brave, then be kind. If you can't put yourself out there, and I'm not saying you should, then do what you can quietly until you can't bare it anymore and you have to leave. But until you decide how you're going to respond, you will feel alienated. If you ever feel numb, then you're loosing your humanity. You're going to have find a confidant. Maybe it's your spouse, maybe it's someone else in your life like your best friend. very few people can bare the emotional burden you will feel when it all kicks off and never say anything. You will need to talk to people, and you need to know they won't betray you if it gets extremely extremely bad. You will also feel anger. That's also normal. But quash it if you can. Anger can make you do reckless things. You will get your revenge by living and not conceding to the madness around you. You need to be smart. Assume that lists of names are being assembled. You can no longer speak out so openly. Make sure you know who you're talking to and who's listening.
Take care. No matter how bad it gets, remember that there are people who care deeply about you. You're never as alone as you might think you are. I've been asked in DMs about VPNs. Here's a great article that explains a lot about the pros and cons of some reputable major ones out there. I personally recommend NordVPN " ~ Via adlerchen
Tips from other users:
-If you have a Portuguese grandparent, you are eligible for citizenship. via AimingWineSnailz
-In regards to VPNs I would recommend Mullvad over NordVPN. One indicator that might be a good idea is that NordVPN does this (taken from OP's article):
We use Google Analytics and third-party ticket/live chat tools (Zendesk/Zopim). Google Analytics is used to improve our website and provide our users with the most relevant information. The ticket/live chat tool is used to provide the best support in the industry (available 24/7), but not tracking our users by any means. I mean, they don't even bother with shielding their users from fucking Google...
Mullvad meanwhile:
We have no external elements at all on our website. We do use an external email provider; for those who want to email us, we encourage them to use PGP encryption which is the only effective way to keep email somewhat private. The decrypted content is only available to us. Way better. That's not to say that NordVPN isn't decent a choice though!
If you can't afford a VPN subscription and need a free VPN go with ProtonVPN.
Also mail! Please change to something like either tutanota or protonmail.
~ Via Sartanen
-Recommended email providers:
Tutanota
Riseup
Protonmail
Regarding VPNs:
The VPNs you will purchase most likely offers non-Brazil locations. Use them, not the ones located in Brazil. Can't afford a VPN? Use Tor. Can afford a VPN? Use Tor still. Most of these services are available with a dedicated .onion address which are more secure than the clearnet one.
Secure payments
Avoid using credit cards/bank accounts/etc for purchasing a VPN or other things you prefer to keep discreet whenever possible. Get Bitcoin or other currencies instead. Simply buying bitcoin from someone is usually enough, however for extra security you can tumble the coins using Privcoin or other coin mixers.
Check out PrivacyTools.io for more tools and tips for security.
https://0bin.net/paste/2oF2qNpVf8mNFqu8#B-iER4pDBL8qgc+iiUc9klwrcazlgK1bxPMMlASeOXx link to reddit post source code
~ Via Codefuser
submitted by Prettygame4Ausername to communism [link] [comments]

IOTA and Tangle discussion/info, scam or not?

In the past weeks I heard a lot pros and cons about IOTA, many of them I believe were not true (I'll explain better). I would like to start a serious discussion about IOTA and help people to get into it. Before that I'll contribute with what I know, most things that I will say will have a source link providing some base content.
 
The pros and cons that I heard a lot is listed below, I'll discuss the items marked with *.
Pros
Cons
 

Scalability

Many users claim that the network infinitely scales, that with more transactions on the network the faster it gets. This is not entirely true, that's why we are seeing the network getting congested (pending transactions) at the moment (12/2017).
The network is composed by full-nodes (stores all transactions), each full-node is capable of sending transactions direct to the tangle. An arbitrary user can set a light-node (do not store all transactions, therefore a reduced size), but as it does not stores all transactions and can't decide if there are conflicting transactions (and other stuff) it needs to connect to a full-node (bitifinex node for example) and then request for the full-node to send a transaction to the tangle. The full-node acts like a bridge for a light-node user, the quantity of transactions at the same time that a full-node can push to the tangle is limited by its brandwidth.
What happens at the moment is that there are few full-nodes, but more important than that is: the majority of users are connected to the same full-node basically. The full-node which is being used can't handle all the requested transactions by the light-nodes because of its brandwidth. If you are a light-node user and is experiencing slow transactions you need to manually select other node to get a better performance. Also, you need to verify that the minimum weight magnitude (difficulty of the Hashcash Proof of Work) is set to 14 at least.
The network seems to be fine and it scales, but the steps an user has to make/know are not friendly-user at all. It's necessary to understand that the technology envolved is relative new and still in early development. Do not buy iota if you haven't read about the technology, there is a high chance of you losing your tokens because of various reasons and it will be your own fault. You can learn more about how IOTA works here.
There are some upcoming solutions that will bring the user-experience to a new level, The UCL Wallet (expected to be released at this month, will talk about that soon and how it will help the network) and the Nelson CarrIOTA (this week) besides the official implementations to come in december.
 

Centralization

We all know that currently (2017) IOTA depends on the coordinator because the network is still in its infancy and because of that it is considered centralized by the majority of users.
The coordinator are several full-nodes scattered across the world run by the IOTA foundation. It creates periodic Milestones (zero value transactions which reference valid transactions) which are validated by the entire network. The coordinator sets the general direction for the tangle growth. Every node verifies that the coordinator is not breaking consensus rules by creating iotas out of thin air or approving double-spendings, nodes only tells other nodes about transactions that are valid, if the Coordinator starts issuing bad Milestones, nodes will reject them.
The coordinator is optional since summer 2017, you can choose not implement it in your full-node, any talented programmer could replace Coo logic in IRI with Random Walk Monte Carlo logic and go without its milestones right now. A new kind of distributed coordinator is about to come and then, for the last, its completely removal. You can read more about the coordinator here and here.

Mining-Blockchain-based Cryptocurrencies

These are blockchain-based cryptocurrencies (Bitcoin) that has miners to guarantee its security. Satoshi Nakamoto states several times in the Bitcoin whitepaper that "The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes". We can see in Blockchain.info that nowadays half of the total hashpower in Bitcoin is controlled by 3 companies (maybe only 1 in the future?). Users must trust that these companies will behave honestly and will not use its 50%> hashpower to attack the network eventually. With all that said it's reasonable to consider the IOTA network more decentralized (even with the coordinator) than any mining-blockchain-based cryptocurrency
You can see a comparison between DAG cryptocurrencies here
 

IOTA partnerships

Some partnerships of IOTA foundation with big companies were well known even when they were not officialy published. Some few examples of confirmed partnerships are listed below, others cofirmed partnerships can be seem in the link Partnerships with big companies at the pros section.
So what's up with all alarming in social media about IOTA Foundation faking partnerships with big companies like Microsoft and Cisco?
At Nov. 28th IOTA Foundation announced the Data Marketplace with 30+ companies participating. Basically it's a place for any entity sell data (huge applications, therefore many companies interested), at time of writing (11/12/2017) there is no API for common users, only companies in touch with IOTA Foundation can test it.
A quote from Omkar Naik (Microsoft worker) depicted on the Data Marketplace blog post gave an idea that Microsoft was in a direct partnership with IOTA. Several news websites started writing headlines "Microsoft and IOTA launches" (The same news site claimed latter that IOTA lied about partnership with Microsoft) when instead Microsoft was just one of the many participants of the Data Marketplace. Even though it's not a direct partnership, IOTA and Microsoft are in close touch as seen in IOTA Microsoft and Bosch meetup december 12th, Microsoft IOTA meetup in Paris 14th and Microsoft Azure adds 5 new Blockchain partners (may 2016). If you join the IOTA Slack channel you'll find out that there are many others big companies in close touch with IOTA like BMW, Tesla and other companies. This means that right now there are devs of IOTA working directly with scientists of these companies to help them integrate IOTA on their developments even though there is no direct partnership published, I'll talk more about the use cases soon.
We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative... - Omkar Naik
 

IOTA's use cases

Every cryptocurrency is capable of being a way to exchange goods, you pay for something using the coin token and receive the product. Some of them are more popular or have faster transactions or anonymity while others offers better scalablity or user-friendness. But none of them (except IOTA) are capable of transactioning information with no costs (fee-less transactions), in an securely form (MAM) and being sure that the network will not be harmed when it gets more adopted (scales). These characteristics open the gates for several real world applications, you probably might have heard of Big Data and how data is so important nowadays.
Data sets grow rapidly - in part because they are increasingly gathered by cheap and numerous information-sensing Internet of things devices such as mobile devices, aerial (remote sensing), software logs, cameras, microphones, radio-frequency identification (RFID) readers and wireless sensor networks.
 
It’s just the beginning of the data period. Data is going to be so important for human life in the future. So we are now just starting. We are a big data company, but compared to tomorrow, we are nothing. - Jack Ma (Alibaba)
There are enormous quantities of wasted data, often over 99% is lost to the void, that could potentially contain extremely valuable information if allowed to flow freely in data streams that create an open and decentralized data lake that is accessible to any compensating party. Some of the biggest corporations of the world are purely digital like Google, Facebook and Amazon. Data/information market will be huge in the future and that's why there so many companies interested in what IOTA can offer.
There are several real world use cases being developed at the moment, many of them if successful will revolutionize the world. You can check below a list of some of them.
Extra
These are just few examples, there are a lot more ongoing and to explore.
 

IOTA Wallet (v2.5.4 below)

For those who have read a lot about IOTA and know how it works the wallet is fine, but that's not the case for most users. Issues an user might face if decide to use the current wallet:
Problems that could be easily avoided with a better understand of the network/wallet or with a better wallet that could handle these issues. As I explained before, some problems during the "congestion" of the network could be simply resolved if stuff were more user-friendly, this causes many users storing their iotas on exchanges which is not safe either.
The upcoming (dec 2017) UCL Wallet will solve most of these problems. It will switch between nodes automatically and auto-reattach transactions for example (besides other things). You can have full a overview of it here and here. Also, the upcoming Nelson CarrIOTA will help on automatic peer discovery for users setup their nodes more easily.
 

IOTA Vulnerability issue

On sept 7th 2017 a team from MIT reported a cryptographic issue on the hash function Curl. You can see the full response of IOTA members below.
Funds were never in danger as such scenarios depicted on the Neha's blogpost were not pratically possible and the arguments used on the blogpost had'nt fundamentals, all the history you can check by yourself on the responses. Later it was discovered that the whole Neha Narula's team were envolved in other concurrent cryptocurrency projects
Currently IOTA uses the relatively hardware intensive NIST standard SHA-3/Keccak for crucial operations for maximal security. Curl is continuously being audited by more cryptographers and security experts. Recenlty IOTA Foundation hired Cybercrypt, the world leading lightweight cryptography and security company from Denmark to take the Curl cryptography to its next maturation phase.
 
It took me a couple of days to gather the informations presented, I wanted it to make easier for people who want to get into it. It might probably have some mistakes so please correct me if I said something wrong. Here are some useful links for the community.
This is my IOTA donation address, in case someone wants to donate I will be very thankful. I truly believe in this project's potential.
I9YGQVMWDYZBLHGKMTLBTAFBIQHGLYGSAGLJEZIV9OKWZSHIYRDSDPQQLTIEQEUSYZWUGGFHGQJLVYKOBWAYPTTGCX
 
This is a donation address, if you want to do the same you might pay attention to some important details:
  • Create a seed for only donation purposes.
  • Generate a address and publish it for everyone.
  • If you spend any iota you must attach a new address to the tangle and refresh your donation address published before to everyone.
  • If someone sends iota to your previous donation address after you have spent from it you will probably lose the funds that were sent to that specific address.
  • You can visualize how addresses work in IOTA here and here.
This happens because IOTA uses Winternitz one-time signature to become quantum resistent. Every time you spend iota from a address, part of the private key of that specific address is revealed. This makes easier for attackers to steal that address balance. Attackers can search if an address has been reused on the tangle explorer and try to brute force the private key since they already know part of it.
submitted by mvictordbz to CryptoCurrency [link] [comments]

[For Hire] Skilled, Experienced Blockchain Back-ENd Developer, 8 Years Bitcoin Exp.

Highly skilled, experienced, innovative, ambitious, trustworthy, and easy to work with. Clean and quality code that is properly tested and works without frustration. Excellent at larger operations including full online operations / portals such as exchange, marketplace, gambling, coin mixer, merchant payment gateway, and things of that nature.
8+ years in bitcoin / blockchain, and know the protocol inside and out. PHP, Python, Perl, Qt / C++, excellent at LINUX server administration, SQL and database administration, security, Tor / hidden services, cloud computing, virtualization, source code control, bitcoin / blockchain protocol, and others. Great and easy to work with, and your imagination is the only limit.
Own and manage https://envrin.com/web_wallet and you can view a demo admin panel of the web wallet software at: https://demo.envrin.com/admin/
Proud creator of Apex, open source software platform that took two years development at: https://apex-platform.org/
Watch the video on the home page to see I am indeed a skilled and able developer. You may also view a personal intro of me at: https://youtu.be/xNmBYtfaf2M
Can start immediately, please contact me directly at [email protected]. Look forward to working with you.
submitted by Envrin to Jobs4Bitcoins [link] [comments]

FUD Copy Pastas

**Last updated: May 30, 2018: Updated wallet info with release of Trinity.
This 4 part series from the IOTA foundation covers most of the technical FUD centered at IOTA.
https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
Also the official IOTA faq on iota.org answers nearly all of these questions if you want to hear the answers directly.
Purpose of Writing
Since posting FUD is so ridiculously low-effort in comparison to setting the record straight, I felt it necessary to put a log of copy-pastas together to balance the scales so its just as easy to answer the FUD as it was to generate it. So next time you hear someone say "IOTA is centralized", you no longer have to take an hour out of your day and spin your wheels with someone who likely had an agenda to begin with. You just copy-paste away and move on.
It's also worth mentioning IOTA devs are too damn busy working on the protocol and doing their job to answer FUD. So I felt a semblance of responsibility.
Here they are. These answers are too my understanding so if you see something that doesn't look right let me know! They are divided into the following categories so if you are interested in a specific aspect of IOTA you can scroll to that section.
1) WALLET
2) COMMUNITY
3) INVESTING
4) TECHNICAL

WALLET

IOTA was hacked and users funds were stolen!

First, IOTA was not hacked. The term “hacked” is thrown around way too brazingly nowadays and often used to describe events that weren’t hacks to begin with. Its a symptom of this space growing way too fast creating situations of the blind leading the blind and causing hysteria.
What happened:
Many IOTA users trusted a certain 3rd party website to create their seed for their wallets. This website silently sent copies of all the seeds generated to an email address and waited till it felt it had enough funds, then it took everyones money simultaneously. That was the ”hack”.
https://blog.iota.org/the-secret-to-security-is-secrecy-d32b5b7f25ef
The lesson:
The absolute #1 marketed feature of crypto is that you are your own bank. Of everything that is common knowledge about crypto, this is at the top. But being your own bank means you are responsible for the security of your own funds. There is no safety net or centralized system in place that is going to bail you out.
For those that don’t know (and you really should if you’ve invested in anything crypto), your seed is your username-pw-security question-backup email all rolled into one. Would you trust a no-name 3rd party website to produce your username+pw for your bank account? Because thats essentially what users did.
The fix:
Make your seed offline with the generators in the sidebar or use dice. This is outlined in the “how to generate wallet and seed” directly following.
The trinity and carriota wallets will have seed generators within them upon their release.

How to generate wallet and seed

1) Download official trinity wallet here
2) follow the instructions on the app.
3) Do not run any apps in conjunction with the trinity app. Make sure all other apps are completely closed out on your device.

Are you sure a computer can’t just guess my seed?

An IOTA seed is 81 characters long. There are more IOTA seed combinations than atoms in the universe. All the computers in the world combined would take millions billions of years just to find your randomly generated one that’s located somewhere between the 0th and the 2781st combination. The chance for someone to randomly generate the exact same seed as yours is 1 / (2781).
If you can’t fathom the number 27 ^ 81, this video should help:
https://www.youtube.com/watch?v=p8YIdmwcubc

Why is Trinity wallet taking so long!!??

Trinity is out. https://trinity.iota.org/

COMMUNITY

IOTA introduction video to share with family

https://youtu.be/LyC04NrJ3yA

Tangle visualizers

http://tangle.glumb.de/

How to setup a full node

Download Bolero and run! Bolero is an all-in-one full node install package with the latest IOTA IRI and Nelson all under a one-click install!
https://github.com/SemkoDev/bolero.fun/releases
"If you want to help the network then spam the network. If you really want to help the network then create a full node and let others spam you!"

No questions or concerns get upvoted, only downvoted!

That’s just the nature of this business. Everyone in these communities has money at stake and are extremely incentivized to keep only positive news at the top of the front page. There is nothing you're going to do about that on this subreddit or any crypto subreddit. It's just a reddit fact of life we have to deal with. Everyone has a downvote and everyone has an upvote. But what can be done is just simply answer the questions even if they are downvoted to hell. Yea most people wont' see the answers or discussion but that one person will. every little bit counts.
I will say that there are most certainly answers to nearly every FUD topic out there. Every single one. A lot of the posts I'm seeing as of late especially since the price spike are rehashed from months ago. They are often not answered not because there isn't an answeexplanation, but because regulars who have the answers simply don't see them (for the reason listed above). I can see how it's easy for this to be interpreted (especially by new users) as there not being an answer or "the FUDsters are on to something" but thats just not the case.

Developer's candidness (aka dev's are assholes!)

http://www.reddit.com/Iota/comments/7obyyx/serious_talk_about_pr_system_iota_and_david/ds8ouvc
http://www.reddit.com/Iota/comments/7obyyx/serious_talk_about_pr_system_iota_and_david/ds8rega
http://www.reddit.com/Iota/comments/7oi9g8/why_is_everyone_so_critical_of_david_this_has_to/ds9rtbb
https://i.redd.it/qb0ik4tgny401.jpg
Lastly and to no surprise, David conducts himself very professionally in this interview even when asked several tough questions about the coordinator and MIT criticism.

IOTA Devs do not respond appropriately to criticism

When critiquers provide feedback that is ACTUALLY useful to the devs, then sure they'll be glad to hear it. So far not once has an outside dev brought up something that the IOTA devs found useful. Every single time it ends up being something that was already taken into consideration with the design and if the critiquer did an ounce of research they would know that. Thus you often find the IOTA devs dismissing their opinion as FUD and responding with hostility because all their critique is really doing is sending the message to their supporters that they are not supposed to like IOTA anymore.
Nick Johnson was a perfect example of this. The Ethereum community was co-existing [peacefully]with IOTA’s community (as they do with nearly all alt coins) until Nick wrote his infamous article. Then almost overnight Ethereum decided it didn’t like IOTA anymore and we’ve been dealing with that shit since. As of today, add LTC to that list with Charlie’s (even admitting) ignorant judgement of IOTA.
12/17/2017: Add John McAfee (bitcoin cash) and Peter Todd (bitcoin) to the list of public figures who have posted ignorantly on IOTA.

A lot of crypto communities certainly like to hate on IOTA...

IOTA is disrupting the disrupters. It invented a completely new distributed ledger infrastructure (the tangle) that replaces the blockchain and solves all of its fundamental problems (namely fees and scaling). To give you an idea of this significance, 99% of the cryptocurrencies that exist are built on a block chain. These projects have billions of dollars invested into them meaning everyone in their communities are incentivized to see IOTA fail and spread as much FUD about it as possible. This includes well known organizations, public figures, and brands. Everyone commenting in these subreddits and crypto communities have their own personal money at stake and skin in the game. Misinformation campaigns, paid reddit posters, upvote/downvote bots, and corrupt moderators are all very real in this space.

INVESTING

How do I buy IOTA

https://medium.com/@fuo213/how-to-buy-iota-the-complete-guide-for-crypto-dummies-e63560caf921

What is the IOTA foundation?

IOTA foundation is a non-profit established in Germany and recognized by the European Union. Blog post here: https://blog.iota.org/iota-foundation-fb61937c9a7e

How many companies and organizations are interested, partnered or actively using IOTA?

A lot, and often too many to keep up with.
https://reddit.com/Iota/comments/7f3dmx/list_of_known_iota_partnerships_corporate/

How was IOTA distributed?

All IOTAs that will ever exist were sold at the ICO in 2015. There was no % reserved for development. Devs had to buy in with their personal money. Community donated back 5% of all IOTA so the IOTA foundation could be setup.

No inflation schedule? No additional coins? How is this sustainable?

Interestingly enough, IOTA is actually the only crypto that does not run into any problems with a currency cap and deflationaryism. Because there are zero fees, you will always be able to pay for something for exactly what it's worth using IOTA, no matter how small the value. If by chance in the future a single iota grows so large in value that it no longer allows someone to pay for something in fractions of a penny, the foundation would just add decimal points allowing for a tenth or a hundreth or a thousandth of an iota to be transacted with.
To give you some perspective, if a single IOTA equals 1 penny, IOTA would have a 27 trillion dollar market cap (100x that of Bitcoin's today)

IOTA is not for P2P, only for M2M

With the release of the trinity wallet, it's now dead simple for anyone to use IOTA funds for P2P. Try it out.

Companies technically don’t have to use the IOTA token

Yes they do
Worth clarifying that 0 iota data transactions are perfectly fine and are welcomed since they still provide pow for 2 other transactions and help secure the network. In the early stages, these types of transactions will probably be what give us the tps/pow needed to remove the coordinator and allow the network defend 34% attacks organically.
But... if someone does not want to sell or exchange their data for free (0 IOTA transaction), then Dominic is saying that the IOTA token must be used for that or any exchange in value on the network.
This is inherently healthy for the ecosystem since it provides a neutral and non-profit middle ground that all parties/companies can trust. If one company made their own token it wouldn’t be trusted since companies are incentivized by profits and nothing is stopping them from manipulating their token to make them more money. Thus, the IOTA foundation will not partner with anyone who refuses to take this option off the table.

All these companies are going to influence IOTA development!!

These companies have no influence on the development of IOTA. They either choose to use it or they don’t.

Internet of things is cheap and will stay cheap

Internet of things is one application of IOTA and considered by many to be the 4th industrial revolution. Go do some googling. IOTA having zero fees enables M2M for the first time in history. Also, if a crypto can do M2M it sure as shit can do M2P and P2P. M2M is hard mode.

IOTA surpassing speculation

IOTA, through the data marketplace and [qubic](qubic.iota.org), will be the first crypto to surpass speculation and actually be used in the real world for something. From there, it will branch out into other use cases, such as P2P. Or maybe P2P use of IOTA will grow in parallel with M2M, because why not?
https://blog.iota.org/iota-data-marketplace-cb6be463ac7f
12/19/17 update: Bosch reinforces IOTA's break-out from speculation by buying IOTA tokens for its future use in the data marketplace. https://i.redd.it/8e5b8bi9ov401.png
http://www.bosch-presse.de/pressportal/de/en/robert-bosch-venture-capital-makes-first-investment-in-distributed-ledger-technology-137411.html

Investing in a new project barely off the ground

Investing in a project in its early stages was something typically reserved for wealthy individuals/organizations before ICO’s became a thing. With early investing comes much less hand holding and more responsibility on the user to know what they are doing. If you have a hard time accepting this responsibility, don’t invest and wait for the technology to get easier for you. How many people actually knew how to use and mine bitcoin in 2009 before it had all its gui infrastructure?
IOTA is a tangle, the first of its kind. NOT a copy paste blockchain. As a result wallets and applications for IOTA are the first of their kind and translating the tangle into a nice clean user-friendly blockchain experience for the masses is even more taxing.

Why is the price of my coin falling?!

This may be the most asked question on any crypto subreddit but it's also the easiest to explain. The price typically falls when bad things happen to a coin or media fabricates bad news about a coin and a portion of investors take it seriously. The price increases when good things happen to a coin, such as a new exchange listing or a partnership announced etc.. The one piece that is often forgotten but trumps all these effects is something called "market forces".
Market forces is what happens to your coin when another coin gets a big news hit or a group of other coins get big news hits together. For example, when IOTA data marketplace released, IOTA hit a x5 bull run in a single week. But did you notice all the other alt coins in the red? There are a LOT of traders that are looking at the space as a whole and looking to get in on ANY bull action and will sell their other coins to do so. This effect can also be compounded over a long period of time such as what we witnessed when the bitcoin fork FOMO was going on and alt coins were squeezed continuously to feed it for weeks/months.
These examples really just scratch the surface of market forces but the big takeaway is that your coin or any coin will most certainly fall (or rise) in price at the result of what other coins are doing, with the most well known example being bitcoin’s correlation to every coin on the market. If you don't want to play the market-force game or don't have time for it, then you can never go wrong buying and holding.
It's also important to note that there are layers of investors. There's a top layer of light-stepping investors that are a mixture of day traders and gamblers trying to jump in and jump out to make quick money then look for the next buying (or shorting) opportunity at another coin. There's a middle layer of buyers and holders who did their research, believe in the tech and placing their bets it will win out in the long run. And the bottom layer are the founders and devs that are in it till the bitter end and there to see the vision realized. When a coin goes on a bull run, always expect that any day the top layer is going to pack up and leave to the next coin. But the long game is all about that middle layer. That is the layer that will be giving the bear markets their price-drop resistance. That is why the meme "HODL" is so effective because it very elegantly simplifies this whole concept for the common joe and makes them a part of that middle layer regardless if they understand whats going on or not.

TECHNICAL

How is IOTA free and how does it scale

IOTA is an altruistic system. Proof of work is done in IOTA just like bitcoin. Only a user’s device/phone must do pow for 2 other transactions before issuing one of its own. Therefore no miners and no fees. And the network becomes faster the more transactions are posted. Because of this, spamming the network is encouraged since they provide pow for 2 other transactions and speed up the network.

IOTA is centralized

IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based in China. Furthermore, the coordinator is not a server in the dev’s basement that secretly processes all the transactions. It’s several nodes all around the globe that add milestone transactions to show the direction of the IF’s tangle within the DAG so people don’t accidentally follow a fork from a malicious actor. Anyone with the know-how can fork the tangle right now with a double-spend. But no one would follow their fork because the coordinator reveals which tangle is the legit IF one. If the coordinator wasn’t there (assuming low honest-transaction volume), there would be no way to discern which path to follow especially after the tangle diverges into forks of forks. Once throughout of honest transactions is significant enough, the “honest tangle” will replace the coordinated one and people will know which one to follow simply because it’s the biggest one in the room.
Referencing the coordinator is also optional.
Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon.
This is another great read covering double spends on IOTA without a coordinator: www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/
This too: http://www.reddit.com/Iota/comments/7eix4a/any_iota_guru_that_can_explain_what_this_guy_is/dq5ijrm
Also this correspondence with Vitalik and Come_from_Beyond https://twitter.com/DavidSonstebo/status/932510087301779456
At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.

Can IOTA defend double spend attacks?

99% of these “but did they think about double spend attacks?” type questions could just be answered if people went and did their own research. Yes of course they thought about that. That’s like crypto101…
www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/

Will IOTA have smart contracts?

Yes - qubic.iota.org

Trinary vs binary?

"By using a ternary number system, the amount of devices and cycles can be reduced significantly. In contrast to two-state devices, multistate devices provide better radix economy with the option for further scaling"
https://www.nature.com/articles/srep36652
https://www.reddit.com/CryptoCurrency/comments/6jgbvb/iota_isnt_it_the_perfect_cryptocurrency/dje8os2/

Bitcoin with lightning network will make IOTA obsolete.

If you want lightning network, IOTA already released it. Called flash channels.
https://blog.iota.org/instant-feeless-flash-channels-88572d9a4385

IOTA rolled its own crypto!

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
This is why: https://blog.iota.org/the-transparency-compendium-26aa5bb8e260
Cybercrypt has been hired to review and audit it. IOTA is currently running SHA-3/KECCAK now until Curl is ready.

MIT said bad things about IOTA

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
And for official formal closure that MIT was completely wrong:
https://www.reddit.com/CryptoCurrency/comments/7svr8mit_media_lab_dci_allegations_proven_wrong_iotas/
https://blog.iota.org/curl-disclosure-beyond-the-headline-1814048d08ef
https://medium.com/@comefrombeyond/cfbs-comments-on-https-www-media-mit-edu-posts-iota-response-5834c7f8172d

Nick Johnson says IOTA is bad!

Nick Johnson is an ethereum dev who is incentivized to see IOTA fail, see CFBs twitter responses here.
https://mobile.twitter.com/nicksdjohnson/status/912676954184323073?lang=en
And this
https://t.co/1HgfPhg2lP
And this
https://www.reddit.com/Iota/comments/72lly0/comment/dnjk9f5?st=JB2VKUBB&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;sh=a2892548
And this
https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2

IOTA is not private!

Masked authenticated messages exist right now so data can be transferred privately. Very important for businesses.

Coin privacy

Centralized coin mixer is out that foundation runs. Logs are kept so they can collect data and improve it Folks can copy the coin mixer code and run it themselves. Goal is for mixer to be decentralized and ran by any node.

How do nodes scale? How on earth can all that data be stored?

Full nodes store, update and verify from the last snapshot, which happens roughly every month. Its on the roadmap to make snapshotting automatic and up to each full node’s discretion.With automatic snapshots, each full node will act as a partial perma-node and choose when to snapshot its tangle data. If someone wants to keep their tangle data for several months or even years, they could just choose not to snapshot. Or if they are limited on hard drive space, they could snapshot every week.
Perma-nodes would store the entire history of the tangle from the genesis. These are optional and would likely only be created by companies who wish to sell historical access of the tangle as a service or companies who heavily use the tangle for their own data and want to have quick, convenient access to their data’s history.
Swarm nodes are also in development which will ease the burden on full nodes. https://blog.iota.org/iota-development-roadmap-74741f37ed01

Node discovery is manual? Wtf?

Nelson is fixing has fixed this:
https://medium.com/deviota/carriota-nelson-automatic-peer-discovery-for-iota-bdca9b8b8750
https://medium.com/deviota/carriota-nelson-in-a-nutshell-1ee5317d8f19
https://github.com/SemkoDev/nelson.cli

IOTA open source?

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
IOTA protocol is open source. The coordinator is closed source open source.
https://imgur.com/a/xWQUp

Foundation moved user's funds?

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
https://blog.iota.org/claims-and-reclaims-finalization-e692844c505a
https://www.reddit.com/Iota/comments/7mmimu/claims_and_reclaims_is_processing/drv63d5/

My IOTA donation address:

9PZFQNPLVDUNGAOYYMMXFWMGNPMNAJWZKTYOOMCYQTZQA9RPVVN9SE9KGOL9HWZFJBXKQGEOY9JJYDXB9TY9FLQPXB
submitted by mufinz2 to Iota [link] [comments]

Apex Web Wallet / Exchange -- Commercial Grade -- Open Source


Decided to go ahead and open source all bitcoin / crypto packages. It's basically the Envrin Web Wallet at: https://envrin.com/web_wallet for a feature list.

You can view full details including installation instructions at:
https://apex-platform.org/repo/package/bitcoin

It's developed on the APex platform, an open source PHP based software platform, and you may view full details on that at:
https://apex-platform.org/

Quality, commercial grade bitcoin web wallet now open sourced. You can easily start your own wallet, offer it to your users, allow users to buy / sell coins via fiat through your site, collect fees, etc. Have fun, please share, and let me know if you have any questions / issues with anything.

Happy to develop more and keep this project going, such as merchant services gateway, traditional exchange, P2P exchange ala Localbitcoins, marketplace, coin mixer, ECR20, and others. Actually have a good number of the packages already done, but they are still on the legacy software platform, and just need to be ported over to Apex. If you'd like to see additional bitcoin / crypto-currency packages from Apex and open sourced, please donate to: 3BzATZd1Gk8ten8L46n1bCqNkCrp32jv7Y

If you're a developed, it's an open source project, so please feel free to jump in and help contribute. You can ping me anytime via e-mail at [[email protected]](mailto:[email protected]).

PS. Oh, and before this starts... don't start screaming scammer / thief, because a) no, there's no malicious code, and b) it's open source, so if you don't believe me, go look at the code yourself.
submitted by Envrin to Bitcoin [link] [comments]

r/Bitcoin recap - February 2019

Hi Bitcoiners!
I’m back with the 26th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
A recap of Bitcoin in February 2019
Adoption * bitcoin can now be used to fund your public transport card in 37 cities in Argentina (7 Feb) * There are as many transactions today as in January 2018 but with all time low fees (7 Feb) * Bitcoin’s Lightning Network currently has 6000 nodes and $2.4M in capacity (9 Feb) * A service that lets you buy Domino’s Pizza via the Lightning Network in the US (13 Feb) * Bitcoin’s average block size is now 1.3MB (14 Feb) * An Argentinian company settles export deal with a client in Paraguay using bitcoin (15 Feb) * The Lightning Network reaches 700 btc in capacity (16 Feb) * A butchery in Kenya accepting bitcoin (17 Feb) * The ₿ symbol is now a listed currency when you long press the $ sign on a mobile keyboard (19 Feb) * A Lightning developer’s node is routing more than $10k per month for a 0.25% fee (19 Feb) * Jack Dorsey, CEO of Twitter and Square, promotes bitcoin tipping on Twitter (20 Feb) * bitcoin transactions near an all-time high of 3.87 transactions per second (21 Feb) * Finanzen.net, a german finance site, starts lising the EUBTC exchange rate (21 Feb) * 20% of Localbitcoins 4.8M visits come from Venezuela (26 Feb) * $52M of bitcoin bought on Cash app in Q4 2018 (27 Feb)
Development * The Casa node has been open-sourced (1 Feb) * A specification for trustless non-pegged sidechains (4 Feb) * Blockstream creates a new Multisignature standard (18 Feb) * BTCPay Server now has payment requests (26 Feb)
Security * A discussion on traditional mixers vs Wasabi wallet (2 Feb) * Another Electrum wallet phishing attempt (4 Feb) * Someone gets scammed for $50 worth in bitcoin by a QR code switch (19 Feb) * Coinomi wallet sends your plain text seed phrase to Google’s remote spellchecker API (27 Feb)
Business * Kraken exchange CEO on the QuadrigaCX coins (3 Feb) * People discuss the bitcoins held by bankrupt QuadrigaCX (4 Feb) * TD Ameritrade is advertising how to invest in Bitcoin on YouTube (10 Feb) * Lightning integration will eventually come to Square’s Cash app according to its CEO (11 Feb) * Samsung’s Galaxy S10 will have secure storage for private keys built in (20 Feb) * A 21-year old couple is working on a hardware wallet (23 Feb)
Research * Bitcoin’s wealth distribution across addresses increased over the past 2 years (13 Feb)
Education * Bitcoin’s prehistory (2 Feb) * People discuss the best real-time bitcoin news feeds (8 Feb) * Someone discusses their small bitcoin mining operation (9 Feb) * A new report on financial privacy from Coin Center (11 Feb) * Andreas Antonopoulos on splicing (25 Feb)
Regulation & Politics * The SEC thinks some cryptocurrency will match their ETF requirements eventually (7 Feb) * Government-mandated asset seizure will be limited in the U.S. (23 Feb)
Archeology (Financial Incumbents) * The British pound is the oldest fiat currency at 317 years and now worth 0.5% of its original value (4 Feb) * JPMorgan Chase incorrectly analyses that bitcoin miners operate at a 16% loss (12 Feb) * JPMorgan Chase launches its own centralized JPM stablecoin (14 Feb) * The IMF comes up with a plan to devalue cash and introduce negative intrest rates (17 Feb) * Venmo’s KYC when someone paid back a sandwich is a great reminder why we need bitcoin (20 Feb)
Price & Trading * Bitcoin passes $4k for the first time in a while (19 Feb)
Fun & Other * A discussion on former Bitcoin developer Mike Hearn (1 Feb) * Twitter CEO Jack Dorsey says he thinks the currency of the Internet will be bitcoin (2 Feb) * Twitter and Square CEO Jack Dorsey passes on the Lightning Torch (5 Feb) * Some instructions on how to send letters using a computer if you think sending bitcoin is difficult (6 Feb) * Why Bitcoin should succeed (7 Feb) * Other technologies that died just like Bitcoin (8 Feb) * Elon Musks compliments cryptocurrency for value transfers (20 Feb) * Elon Musk says whoever owns the early btc deserves a Nobel prize in delayed gratification (21 Feb) * A Lightning-powered chicken feeder (22 Feb) * A Malaysian bookstore with Bitcoin and Blockchain books on top of the finance section (28 Feb)
submitted by SamWouters to Bitcoin [link] [comments]

Part 6. (Last part) I'm writing a series about blockchain tech and possible future security risks. Failing shortcuts in an attempt to accomplish Quantum Resistance

The previous parts will give you usefull basic blockchain knowledge and insights on quantum resistance vs blockchain that are not explained in this part.
Part 1, what makes blockchain reliable?
Part 2, The mathematical concepts Hashing and Public key cryptography.
Part 3, Quantum resistant blockchain vs Quantum computing.
Part 4A, The advantages of quantum resistance from genesis block, A
Part 4B, The advantages of quantum resistance from genesis block, A
Part 5, Why BTC is vulnerable for quantum attacks sooner than you would think.

Failing shortcuts in an attempt to accomplish Quantum Resistance
Content:
Hashing public keys
“Instant” transactions
FIFO
Standardized fees
Multicast
Timestamped transactions
Change my mind: If a project doesn't use a Quantum Resistant signature scheme, it is not 100% Quantum Resistant.
Here are some of the claims regarding Quantum Resistance without the use of a quantum resistant signature scheme that I have come across so far. For every claim, I give arguments to substantiate why these claims are incorrect.
“We only have public keys in hashed form published. Even quantum computers can't reverse the Hash, so no one can use those public keys to derive the private key. That's why we are quantum resistant.” This is incorrect.
This example has been explained in the previous article. To summarize: Hashed public keys can be used as an address for deposits. Deposits do not need signature authentication. Alternatively, withdrawals do need signature authentication. To authenticate a signature, the public key will always need to be made public in full, original form. As a necessary requirement, the full public key would be needed to spend coins. Therefore the public key will be included in the transaction.
The most famous blockchain to use hashed public keys is Bitcoin. Transactions can be hijacked during the period a user sends a transaction from his or her device to the blockchain and the moment a transaction is confirmed. For example: during Bitcoins 10 minute blockchain, the full public keys can be obtained to find private keys and forge transactions. Page 8, point 3 Hashing public keys does have advantages: they are smaller than the original public keys. So it does save space on the blockchain. It doesn't give you Quantum Resistance however. That is a misconception.
“Besides having only hashed public keys on the blockchain, we also have instant transactions. So there is no time to hijack a transaction and to obtain the public key fast enough to forge a transaction. That's why we are quantum resistant.” This is incorrect and impossible.
There is no such thing as instant transactions. A zero second blocktime for example is a claim that can’t be made. Period. Furthermore, transactions are collected in pools before they are added to a block that is going to be processed. The time it takes for miners to add them to a new block before processing that block depends on the amount of transactions a blockchain needs to process at a certain moment. When a blockchain operates within its maximum capacity (the maximum amount of transactions that a blockchain can process per second), the adding of transactions from the pool will go quite swiftly, but still not instantaneously.
However, when there is high transaction density, transactions can be stuck in the pool for a while. During this period the transactions are published and the full public keys can be obtained. Just as with the previous hijacking example, a transaction can be forged in that period of time. It can be done when the blockchain functions normally, and whenever the maximum capacity is exceeded, the window of opportunity grows for hackers.
Besides the risk that rush hours would bring by extending the time to work with the public key and forge transactions, there are network based attacks that could serve the same purpose: slow the confirmation time and create a bigger window to forge transactions. These types are attacks where the attacker targets the network instead of the sender of the transaction: Performing a DDoS attack or BGP routing attack or NSA Quantum Insert attack on a peer-to-peer network would be hard. But when provided with an opportunity to earn billions, hackers would find a way.
For example: https://bitcoinmagazine.com/articles/researchers-explore-eclipse-attacks-ethereum-blockchain/
For BTC: https://eprint.iacr.org/2015/263.pdf
An eclipse attack is a network-level attack on a blockchain, where an attacker essentially takes control of the peer-to-peer network, obscuring a node’s view of the blockchain.
That is exactly the recipe for what you would need to create extra time to find public keys and derive private keys from them. Then you could sign transactions of your own and confirm them before the originals do.
This specific example seems to be fixed now, but it most definitely shows there is a risk of other variations to be created. Keep in mind, before this variation of attack was known, the common opinion was that it was impossible. With little incentive to create such an attack, it might take a while until another one is developed. But when the possession of full public keys equals the possibility to forge transactions, all of a sudden billions are at stake.
“Besides only using hashed public keys as addresses, we use the First In First Out (FIFO) mechanism. This solves the forged transaction issue, as they will not be confirmed before the original transactions. That's why we are quantum resistant.” This is incorrect.
There is another period where the public key is openly available: the moment where a transaction is sent from the users device to the nodes on the blockchain network. The sent transaction can be delayed or totally blocked from arriving to the blockchain network. While this happens the attacker can obtain the public key. This is a man-in-the-middle (MITM) attack. A MITM is an attack where the attacker secretly relays and possibly alters the communication between two parties who believe they are directly communicating with each other. No transaction is 100% safe from a MITM attack. This type of attack isn’t commonly known amongst average usergroups due to the fact communication is done either encrypted or by the use of private- public key cryptography. Therefore, at this point of time MITM attacks are not an issue, because the information in transactions is useless for hackers. To emphasize the point made: a MITM attack can be done at this point of time to your transactions. But the information obtained by a hacker is useless because he can not break the cryptography. The encryption and private- public key cryptography is safe at this point of time. ECDSA and RSA can not be broken yet. But in the era of quantum computers the problem is clear: an attacker can obtain the public key and create enough time to forge a transaction which will be sent to the blockchain and arrive there first without the network having any way of knowing the transaction is forged. By doing this before the transaction reaches the blockchain, FIFO will be useless. The original transaction will be delayed or blocked from reaching the blockchain. The forged transaction will be admitted to the network first. And First In First Out will actually help the forged transaction to be confirmed before the original.
“Besides having only hashed public keys, we use small standardized fees. Forged transactions will not be able to use higher fees to get prioritized and confirmed before the original transactions, thus when the forged transaction will try to confirm the address is already empty. This is why we are quantum resistant.” This is incorrect.
The same arguments apply as with the FIFO system. The attack can be done before the original transaction reaches the network. Thus the forged transaction will still be handled first no matter the fee hight.
“Besides the above, we use multicast so all nodes receive the transaction at the same time. That's why we are quantum resistant.” This is incorrect.
Multicast is useless against a MITM attack when the attacker is close enough to the source.
“Besides the above, we number all our transactions and authenticate nodes so the user always knows who he's talking to. That's why we are quantum resistant.” This is incorrect.
Besides the fact that you’re working towards a centralized system if only verified people can become nodes. And besides the fact that also verified nodes can go bad and work with hackers. (Which would be useless if quantum resistant signature schemes would be implemented because a node or a hacker would have no use for quantum resistant public keys and signatures.) There are various ways of impersonating either side of a communication channel. IP-spoofing, ARP-spoofing, DSN-spoofing etc. All a hacker needs is time and position. Time can be created in several ways as explained above. All the information in the transaction an original user sends is valid. When a transaction is hijacked and the communication between the user and the rest of the network is blocked, a hacker can copy that information to his own transaction while using a forged signature. The only real effective defense against MITM attacks can be done on router or server-side by a strong encryption between the client and the server (Which in this case would be quantum resistant encryption, but then again you could just as well use a quantum resistant signature scheme.), or you use server authentication but then you would need that to be quantum resistant too. There is no serious protection against MITM attacks when the encryption of the data and the authentication of a server can be broken by quantum computers.
Only quantum resistant signature schemes will secure blockchain to quantum hacks. Every blockchain will need their users to communicate their public key to the blockchain to authenticate signatures and make transactions. There will always be ways to obtain those keys while being communicated and to stretch the period where these keys can be used to forge transactions. Once you have, you can move funds to your own address, a bitcoin mixer, Monero, or some other privacy coin.
Conclusion
There is only one way to currently achieve Quantum Resistance: by making sure the public key can be made public without any risks, as is done now in the pre-quantum period and as Satoshi has designed blockchain. Thus by the use of quantum resistant signature schemes. The rest is all a patchwork of risk mitigation and delaying strategies; they make it slightly harder to obtain a public key and forge a transaction but not impossible.
Addition
And then there is quite often this strategy of postponing quantum resistant signature schemes
“Instead of ECDSA with 256 bit keys we will just use 384 bit keys. And after that 521 bit keys, and then RSA 4096 keys, so we will ride it out for a while. No worries we don’t need to think about quantum resistant signature schemes for a long time.” This is highly inefficient, and creates more problems than it solves.
Besides the fact that this doesn’t make a project quantum resistant, it is nothing but postponing the switch to quantum resistant signatures, it is not a solution. Going from 256 bit keys to 384 bit keys would mean a quantum computer with ~ 3484 qubits instead of ~ 2330 qubits could break the signature scheme. That is not even double and postpones the problem either half a year or one year, depending which estimate you take. (Doubling of qubits every year, or every two years). It does however have the same problems as a real solution and is just as much work. (Changing the code, upgrading the blockchain, finding consensus amongst the nodes, upgrading all supporting systems, hoping the exchanges all go along with the new upgrade and migrate their coins, heaving all users migrate their coins.) And then quite soon after that, they'll have to go at it again. What they will do next? Go for 512 bit curves? Same issues. It's just patchworks and just as much hassle, but then over and over again for every “upgrade” from 384 to 521 etc.
And every upgrade the signatures get bigger, and closer to the quantum resistant signature sizes and thus the advantage you have over blockchains with quantum resistant signature schemes gets smaller. While the quantum resistant blockchains are just steady going and their users aren’t bothered with all the hassle. At the same time the users of the blockchain that is constantly upgrading to a bigger key size, keep on needing to migrate their coins to the new and upgraded addresses to stay safe.
submitted by QRCollector to CryptoTechnology [link] [comments]

A great letter to gain acceptance on all exchanges!

Below is a letter that I attached to make it easier for people to cut and paste and edit as they see fit to request that their favorite exchange start exchanging this great coin called Particl (PART). This letter is open to the public and they may copy paste and edit as they see fit and send it to an exchange to request acceptance.
START BELOW
Hello,
I have been researching the technological aspects of crypto currency for the past few years and rating them accordingly with ability and utility as a unit of measure. It has come to my attention that one currency that stands out like a sore thumb as the top investment for growth is particl ticker (PART) while I find it available on very few exchanges. This coin formerly labeled Shadowcash hosting the umbrella wallet had very prominent intents of being somewhat of a evolutionary change adding anonymity as a large feature of its coin. Since than it has evolved to include bigger and better things in its roadmap many if not all of the features that Satoshi Namakato visioned are now included in this coins roadmap which is highly important from an investment standpoint. It stands to reason that if Bitcoin has done so well with only a small footprint of the vision of such a visionary that the entire vision recognized would prove to be a success. The other oddity is that it includes other features that are solutions to many if not all of the things facing crypto currency adding things that exist in most all of the most prominent coins or assets available. POS (Proof Of Stake) this solves the problem of mining using as much energy as over 130+ countries combined in the POW (Proof Of Work) based assets people may not realize it but this is a real problem and it is solved! Transaction times have been greatly improved even while giving the ability to anonymously conduct those transaction using a 3rd party verified cryptography called RINGCT which essentially works like a mixer. We may not realize it but the ability to use cash for a purchase is an important utility in fiat systems because it provides a degree of privacy to our purchases. Exchange is an important utility that many coins including bitcoin simply does not offer. The ability to exchange from within the wallet is a terrific example of utility and it speaks to faith in its own coin by allowing users to choose to use whatever coin they would like to support! It is like providing a product in a market right alongside other products because they feel what they have is of enough value to compete in a heavily saturated market this kind of faith does not occur without trust in your product. Other things such as cold staking allow people to transfer their coins to a cold staking pool much like miners have mining pools to have their coins pay dividends which encourages people to hold more coins at any given time never done before in any wallet! A feature that allows MAD (Mutually Assured Destruction) is a form of escrow that has been enabled to allow people to agree on how much coin to put up in a transaction to provide insurance that both parties are happy within a transaction if an agreement is not met by the specified date than both parties lose their money which goes back to the blockchain to be staked by other users. The MAD feature provides incentive to deal in an open and honest manner. This is built off of the latest Bitcoin Core technology so it is possible for bitcoin to be everything particl is. But in speaking of being possible of what things are the DAPPS feature introduced also makes it possible for Particl to be everything that ethereum is as well. So we have a coin that can do everything that every solid coin out there can do and in many cases do it better. There is also a feature that will allow Particl to add yet another new feature that has never been introduced to a wallet before and that is a built in market where you can buy and sell things both public and privately as well. The public form of the market will have built in protections so that the coin does not turn into an open market to traffic illicit things while allowing things that are grey and should have allowances such as subscriptions, cdkeys, vudu codes, etc... After all you are the owner of such data and products and resale rights should always be allowed which is super important to any marketplace facing a large elephant in the room that companies are trying to use to make you pay a set price for digital and physical items alike through providing you a limited form of ownership. And speaking to ownership PART allows for completely decentralized voting built in to the particl blockchain. Now an asset like this in such a time of awareness seems to be highly undervalued and I would love to have the ability to purchase on any exchange seen fit including this one. I believe prices should not be driven by pure speculation and it is only a matter of time before people are going to be awake to the technological aspects of such a chain and prices are going to go through the roof the campaign has not even started to promote such awareness but it will sometime next year. This is not your average speculative asset it really brings utility of crypto currency to the next level. All coins claim to be revolutionary but this coin I would love to refrain from using such a term as it is evolutionary! And I urge you to seriously reflect on Particl and it's offerings and how it is by and large part of a evolution that is much needed and consider it as an asset that I can freely invest in wherever whenever. For me any exchange that does not allow Particl I will not be a part of because it tells me that it is afraid of the built in exchange being a better service than that exchange can offer. Much like closed source cornering of the market a method that many people are very aware of which is why decentralized things are important. Not allowing particl speaks to that exchange wanting centralized control of exchanging and exchange rates which totally defeats the purpose and design of the assets you are exchanging.
Thank You,
Signed Potential Exchange User
END OF LETTER
I think with enough community effort we are at a point where the thousands of reddit users can start hammering the exchanges with demands to carry Particl (PART) to be honest I will no longer use an exchange that doesn't accept particl for obvious reasons as they believe they should be the central delegates of exchange and exchange rates. It is a shocking thing while I realize that particl has really not built any real force to address these issues if people were to look at the important aspects of these currencies it would be an obvious thing to want to host particl on their exchange without even being asked or informed. As of now there are only a couple of well informed exchanges it seems mainly bittrex.
I think the time has come and if you believe the time is now I suggest you modify or copy and sent this letter to your exchange.
submitted by forlotto to Particl [link] [comments]

Privacy Coin Review & Introduction to the Web of Trust

The Danger of Transparent Blockchains for Individuals and Businesses
Transparent blockchains do not only affect those who use cryptocurrencies in the black market, but also those who work within the confines of the law. That is, any individual persons and/or legal businesses are also affected by lack of privacy. Furthermore, anyone associated with a person or entity that operates using a transparent blockchain is also affected.
When receiving funds in your personal life- via a transparent blockchain, your employer information and your friends and family connections are readily known to attackers. In like manner, your business associations- like suppliers- are readily available to your competitors.
Your expenses are also transparent, making your spending habits predictable. You may easily become a target for your political and religious affiliations. Payments to health specialists with transparent cryptos will also lead you to reveal personal information about your medical well-being that you might prefer to keep private.
Your balance of your transparent blockchain wallet is also readily available to anyone in the world. Attackers can precisely target attacks to wealthy individuals and companies with large enough savings, with full knowledge as to what money the victims have at hand.
Transparent balances make your business susceptible for competitors to undermine your business. Privacy is necessary for businesses to have a competitive advantage.
Transparency has huge implications for businesses and people even within legal frameworks. Privacy offers individuals and businesses advantages within the legal system. Transparent blockchains threatened those advantages.
Optional Privacy Coins: Zcash & PIVX
In the context of our portfolio, the coins with optional privacy are those that incorporate technologies such as Mixers, Tumblers, or zkSNARKs. These technologies are incorporated as portions of the network, they are not the entire network. That is, these technologies are currently only used for optional privacy.
In order to use these optional private technologies, users need to opt-in and pay extra funds to use the optional privacy features. On top of this, users must be competent in knowing how to use these privacy alternatives effectively. Not everyone has the competency to use these privacy features correctly. Things get even more complicated for users that want to use these optional privacy features because not all wallets provide optional privacy features for these coins. These hurdles lessen the probability for these technologies to be used widely.
Zcash and PIVX are examples of coins with optional privacy. The sending of coins between the privacy options/portion and the transparent default mode lessens your anonymity. The privacy options of these coins are useless if the user does not use them properly. You will definitely get more privacy in a blockchain of optional privacy over one of complete transparency. The problem with these optional privacy systems is that they are very complicated. There is an enormous list of conditions for you to be assured of your privacy. Beware of using optional privacy features, for if you use it wrong you could be leaking a lot of metadata throughout the process. Generally, people do not know how to use these privacy tools properly and these optional privacy features are not completely supported by the network.
At TDV, we will continue to refer to these coins as “optional privacy coins” because that is what they truly are. They are definitely not privacy coins, in the full extent of the term. If you want privacy, we do not recommend that you use cryptocurrencies with optional privacy- unless you know exactly what you are doing.
Zcash
Zcash has upgraded its privacy features with its Sapling update. Right before this upgrade, a study concluded that Zcash patterns of usage are easily mapped out via blockchain analysis. Before Sapling, only 6.3% of Zcash users utilized its shielded address privacy features. Overall, the study demonstrated how many of these 6.3% of privacy users were putting other users in jeopardy for using the shielded address features incorrectly. We hope that the Sapling upgrade makes the use of shielded transactions easier to use.
The Sapling upgrade is geared towards greater integration of shielded transactions for exchanges, mobile wallets, and vendor point of sales solutions. This upgrade also allows you to construct the private z-addresses in a matter of seconds with 40 megabytes of memory. Sapling makes shielded transactions up to 100 times lighter and 6 times faster.
Sapling also allows for there to be hardware separation between the hardware that constructs the zero-knowledge proof and the hardware that signs the transaction. On top of all of this, Sapling allows users to have less exposure in private key management when using shielded transactions.
PIVX
PIVX is still the only blockchain implementation we are aware of that has zero knowledge proofs as a PoS cryptocurrency. Ethereum aims to compete with PIVX in this position upon upgrading to scale via zk-SNARKS, as recently proposed. zPIV is the zero knowledge proof integration of PIVX. zPIV automatically privatizes 10% of the holdings in your wallet. You then have the option of spending from your 10% privacy coins or your 90% transparent coins.
Like Zcash, PIVX is also not private by default. This is the main issue we find with PIVX. Not being completely private by default opens up all users of PIVX to blockchain analysis and further exposure via the metadata gathered via the transparency of the PIVX blockchain.
PIVX’s implementation of zero knowledge proofs is the reason we categorize it as an optional privacy coin. PIVX is still a young coin. We hope that they increase their privacy features further to mandatory privacy by default.
PIVX recently announced that around 20% of its network is private via its zPIV- Zero Knowledge proof implementation. This is a good thing. However, we have noticed that PIVX is has been marketing itself as an anonymous coin. It is important to point out that as long as they are optional in privacy, they are not truly anonymous.
PIVX is set to soon have a mobile wallet on iOS. The PIVX team is also putting out a decentralized exchange known as zDEX. This exchange extends the privacy features found in PIVX to individuals using the exchange by means of an IOU called a PIV. This exchange is still in its Alpha stage and it is available to all Bitcoin code-based coins.
Monero (XMR): Default On-Chain Privacy
It is not enough for a privacy solution to be mandatory. It is most important that any mandatory privacy solution be a good solution. The Monero community’s understanding of privacy is that privacy is an ongoing endeavor that must continue to improve, and never ends.
Privacy is not an on/off switch. That is, privacy is not a binary feature that you just turn on. The Monero community views privacy as goal to be aimed at, which exists within a spectrum. On one end of this spectrum we have full transparency, on the other end of this spectrum we have complete privacy.
There is never perfect privacy or perfect transparency
The Monero community understands that they will never truly achieve either extreme. To be completely transparent you need to be perfectly accessible. Similarly, perfect privacy would be nearly inaccessible, or totally inaccessible. Perfect privacy is not possible. What is possible is to be private enough at the present moment.
Privacy is not a thing that you achieve, it is a constant cat and mouse battle — ’Fluffypony’ Riccardo Spagni, Monero core developer
The striving for privacy is one in which we continuously adopt better systems. Privacy will never be something we will simply implement and be done with. Attackers will continually get better at attacking and deciphering privacy systems. It is important for there to be a hive-mind awareness of this important reality. The Monero community has become the quintessential decentralized privacy-conscious community of the world.
For example, people once thought bitcoin was private enough until blockchain analysis came along and turned the bitcoin blockchain completely transparent. Monero updated via hard fork on October 18, 2018. During this hard fork, many innovations were introduced.
Ring signatures in Monero have changed throughout time from 3, to 5, to 7, and now to 11. During this last upgrade, ring signatures were updated to 11 mandatory ring signatures per transaction. This mandatory ring size of 11 does away with the problem of distinguishability.
In the past, individuals would recuringly use the same distinctive ring size- of say like number “71”- which would make them to be distinguishable targets for attackers. It is the belief of the Monero community that all transactions should look as identical as possible to prevent distinguishability.
Bulletproofs were also introduced into the Monero infrastructure. Bulletproofs are a new mathematical system for verifiable masked transaction amounts, which replaced the zero-knowledge range proof that Monero’s confidential transactions relied on.
This innovation decreased the size of confidential transactions by over 80%, which drastically reduced fees. That is, bulletproofs made Monero transactions a lot smaller and a lot cheaper. It now costs less than 1 cent to send a normal XMR transaction, regardless of the amount.
The Importance of Fungibility
Monero is the only true fungible major cryptocurrency starting 2019. Fungibility is the monetary feature that pertains to the interchangeability of units within a currency.
Fungibility is a fundamental property of currencies.
Fungibility is evermore so important in decentralized cryptocurrencies because of there not being a centralized authority enforcing the actual fungibility. That is, fungibility must be inherent to the cryptocurrency at the protocol level. A cryptocurrency is fungible when it is indistinguishable in its interchangeability.
In order for coins to be indistinguishable, you must not be able to find out any information about their past history. Therefore, on-chain privacy by default is a necessary prerequisite for fungibility in cryptocurrencies.
It is our opinion at TDV that awareness of privacy and fungibility will grow in importance throughout 2019. We believe that users of cryptocurrencies will begin to realize that fungibility is a necessary component for good money in a free market. For this reason alone, we are extremely bullish on Monero. Other privacy projects are important too; however it is imperative to point out how far ahead Monero is from the pack. Monero is the privacy coin standard.
Throughout 2019, we aim on educating our subscribers on how to use Monero and cryptography more effectively.
Building the TDV Web of Trust in 2019
As you know, without encryption there is no cryptocurrency. We find it extremely important for our community to become competent in using cryptography not just for their cryptocurrency, but also for their daily communication. It is important for us to take the privacy of our communication seriously as the surveillance mechanisms ramp up around us.
As 2019 gets going, we will be emphasizing cryptographic security measures for your online communication with more tutorials and product suggestions. As stated above, the only way to be safe is to stay ahead of the evesdroppers.
We recommend that you never use the text messages on your phone. Please use Telegram and/or Signal. Wickr and Wire are also incredible options. Also, please become acquainted with encrypted email services such as ProtonMail and Tutanota. When the time comes we will have to move beyond a p2p systems of communication like Telegram and Signal. We are going to have to move unto friend-2-friend systems, where we physically verify one another’s cryptographic signatures. This physical verifying of one another’s digital cryptographic signature is known as a Key Signing Party. It is one of our goals for 2019 that we would like to lead our subscribers in becoming cryptographically savvy enough to host their own key signing parties. We aim that by next year, during Anarchapulco 2020, our community would have the skills necessary to spontaneously verify one another’s cryptographic signatures when meeting in person.
These “parties” are to occur by friend-2-friend invite only. The goal here is on high trust. You invite individuals of whom you need verification of their cryptographic identity. That is, you invite people to verify their digital signatures personally to make sure that the corresponding signature actually belongs to that given individual. The more people enjoin in this practice, the more we grow what will eventually become our own TDV web of trust (WOT).
Remember, you could be interacting within an encrypted medium- but still be talking to the wrong person. Feel free to copy/paste this idea of key signing party to and pass it along. Our goal for 2019 is that you become ever more safe online.
Happy New Year!
by Rafael LaVerde
Source (PDF)
submitted by 2012ronpaul2012 to C_S_T [link] [comments]

Privacy Coin Review & Introduction to the Web of Trust

The Danger of Transparent Blockchains for Individuals and Businesses
Transparent blockchains do not only affect those who use cryptocurrencies in the black market, but also those who work within the confines of the law. That is, any individual persons and/or legal businesses are also affected by lack of privacy. Furthermore, anyone associated with a person or entity that operates using a transparent blockchain is also affected.
When receiving funds in your personal life- via a transparent blockchain, your employer information and your friends and family connections are readily known to attackers. In like manner, your business associations- like suppliers- are readily available to your competitors.
Your expenses are also transparent, making your spending habits predictable. You may easily become a target for your political and religious affiliations. Payments to health specialists with transparent cryptos will also lead you to reveal personal information about your medical well-being that you might prefer to keep private.
Your balance of your transparent blockchain wallet is also readily available to anyone in the world. Attackers can precisely target attacks to wealthy individuals and companies with large enough savings, with full knowledge as to what money the victims have at hand.
Transparent balances make your business susceptible for competitors to undermine your business. Privacy is necessary for businesses to have a competitive advantage.
Transparency has huge implications for businesses and people even within legal frameworks. Privacy offers individuals and businesses advantages within the legal system. Transparent blockchains threatened those advantages.
Optional Privacy Coins: Zcash & PIVX
In the context of our portfolio, the coins with optional privacy are those that incorporate technologies such as Mixers, Tumblers, or zkSNARKs. These technologies are incorporated as portions of the network, they are not the entire network. That is, these technologies are currently only used for optional privacy.
In order to use these optional private technologies, users need to opt-in and pay extra funds to use the optional privacy features. On top of this, users must be competent in knowing how to use these privacy alternatives effectively. Not everyone has the competency to use these privacy features correctly. Things get even more complicated for users that want to use these optional privacy features because not all wallets provide optional privacy features for these coins. These hurdles lessen the probability for these technologies to be used widely.
Zcash and PIVX are examples of coins with optional privacy. The sending of coins between the privacy options/portion and the transparent default mode lessens your anonymity. The privacy options of these coins are useless if the user does not use them properly. You will definitely get more privacy in a blockchain of optional privacy over one of complete transparency. The problem with these optional privacy systems is that they are very complicated. There is an enormous list of conditions for you to be assured of your privacy. Beware of using optional privacy features, for if you use it wrong you could be leaking a lot of metadata throughout the process. Generally, people do not know how to use these privacy tools properly and these optional privacy features are not completely supported by the network.
At TDV, we will continue to refer to these coins as “optional privacy coins” because that is what they truly are. They are definitely not privacy coins, in the full extent of the term. If you want privacy, we do not recommend that you use cryptocurrencies with optional privacy- unless you know exactly what you are doing.
Zcash
Zcash has upgraded its privacy features with its Sapling update. Right before this upgrade, a study concluded that Zcash patterns of usage are easily mapped out via blockchain analysis. Before Sapling, only 6.3% of Zcash users utilized its shielded address privacy features. Overall, the study demonstrated how many of these 6.3% of privacy users were putting other users in jeopardy for using the shielded address features incorrectly. We hope that the Sapling upgrade makes the use of shielded transactions easier to use.
The Sapling upgrade is geared towards greater integration of shielded transactions for exchanges, mobile wallets, and vendor point of sales solutions. This upgrade also allows you to construct the private z-addresses in a matter of seconds with 40 megabytes of memory. Sapling makes shielded transactions up to 100 times lighter and 6 times faster.
Sapling also allows for there to be hardware separation between the hardware that constructs the zero-knowledge proof and the hardware that signs the transaction. On top of all of this, Sapling allows users to have less exposure in private key management when using shielded transactions.
PIVX
PIVX is still the only blockchain implementation we are aware of that has zero knowledge proofs as a PoS cryptocurrency. Ethereum aims to compete with PIVX in this position upon upgrading to scale via zk-SNARKS, as recently proposed. zPIV is the zero knowledge proof integration of PIVX. zPIV automatically privatizes 10% of the holdings in your wallet. You then have the option of spending from your 10% privacy coins or your 90% transparent coins.
Like Zcash, PIVX is also not private by default. This is the main issue we find with PIVX. Not being completely private by default opens up all users of PIVX to blockchain analysis and further exposure via the metadata gathered via the transparency of the PIVX blockchain.
PIVX’s implementation of zero knowledge proofs is the reason we categorize it as an optional privacy coin. PIVX is still a young coin. We hope that they increase their privacy features further to mandatory privacy by default.
PIVX recently announced that around 20% of its network is private via its zPIV- Zero Knowledge proof implementation. This is a good thing. However, we have noticed that PIVX is has been marketing itself as an anonymous coin. It is important to point out that as long as they are optional in privacy, they are not truly anonymous.
PIVX is set to soon have a mobile wallet on iOS. The PIVX team is also putting out a decentralized exchange known as zDEX. This exchange extends the privacy features found in PIVX to individuals using the exchange by means of an IOU called a PIV. This exchange is still in its Alpha stage and it is available to all Bitcoin code-based coins.
Monero (XMR): Default On-Chain Privacy
It is not enough for a privacy solution to be mandatory. It is most important that any mandatory privacy solution be a good solution. The Monero community’s understanding of privacy is that privacy is an ongoing endeavor that must continue to improve, and never ends.
Privacy is not an on/off switch. That is, privacy is not a binary feature that you just turn on. The Monero community views privacy as goal to be aimed at, which exists within a spectrum. On one end of this spectrum we have full transparency, on the other end of this spectrum we have complete privacy.
There is never perfect privacy or perfect transparency
The Monero community understands that they will never truly achieve either extreme. To be completely transparent you need to be perfectly accessible. Similarly, perfect privacy would be nearly inaccessible, or totally inaccessible. Perfect privacy is not possible. What is possible is to be private enough at the present moment.
Privacy is not a thing that you achieve, it is a constant cat and mouse battle — ’Fluffypony’ Riccardo Spagni, Monero core developer
The striving for privacy is one in which we continuously adopt better systems. Privacy will never be something we will simply implement and be done with. Attackers will continually get better at attacking and deciphering privacy systems. It is important for there to be a hive-mind awareness of this important reality. The Monero community has become the quintessential decentralized privacy-conscious community of the world.
For example, people once thought bitcoin was private enough until blockchain analysis came along and turned the bitcoin blockchain completely transparent. Monero updated via hard fork on October 18, 2018. During this hard fork, many innovations were introduced.
Ring signatures in Monero have changed throughout time from 3, to 5, to 7, and now to 11. During this last upgrade, ring signatures were updated to 11 mandatory ring signatures per transaction. This mandatory ring size of 11 does away with the problem of distinguishability.
In the past, individuals would recuringly use the same distinctive ring size- of say like number “71”- which would make them to be distinguishable targets for attackers. It is the belief of the Monero community that all transactions should look as identical as possible to prevent distinguishability.
Bulletproofs were also introduced into the Monero infrastructure. Bulletproofs are a new mathematical system for verifiable masked transaction amounts, which replaced the zero-knowledge range proof that Monero’s confidential transactions relied on.
This innovation decreased the size of confidential transactions by over 80%, which drastically reduced fees. That is, bulletproofs made Monero transactions a lot smaller and a lot cheaper. It now costs less than 1 cent to send a normal XMR transaction, regardless of the amount.
The Importance of Fungibility
Monero is the only true fungible major cryptocurrency starting 2019. Fungibility is the monetary feature that pertains to the interchangeability of units within a currency.
Fungibility is a fundamental property of currencies.
Fungibility is evermore so important in decentralized cryptocurrencies because of there not being a centralized authority enforcing the actual fungibility. That is, fungibility must be inherent to the cryptocurrency at the protocol level. A cryptocurrency is fungible when it is indistinguishable in its interchangeability.
In order for coins to be indistinguishable, you must not be able to find out any information about their past history. Therefore, on-chain privacy by default is a necessary prerequisite for fungibility in cryptocurrencies.
It is our opinion at TDV that awareness of privacy and fungibility will grow in importance throughout 2019. We believe that users of cryptocurrencies will begin to realize that fungibility is a necessary component for good money in a free market. For this reason alone, we are extremely bullish on Monero. Other privacy projects are important too; however it is imperative to point out how far ahead Monero is from the pack. Monero is the privacy coin standard.
Throughout 2019, we aim on educating our subscribers on how to use Monero and cryptography more effectively.
Building the TDV Web of Trust in 2019
As you know, without encryption there is no cryptocurrency. We find it extremely important for our community to become competent in using cryptography not just for their cryptocurrency, but also for their daily communication. It is important for us to take the privacy of our communication seriously as the surveillance mechanisms ramp up around us.
As 2019 gets going, we will be emphasizing cryptographic security measures for your online communication with more tutorials and product suggestions. As stated above, the only way to be safe is to stay ahead of the evesdroppers.
We recommend that you never use the text messages on your phone. Please use Telegram and/or Signal. Wickr and Wire are also incredible options. Also, please become acquainted with encrypted email services such as ProtonMail and Tutanota. When the time comes we will have to move beyond a p2p systems of communication like Telegram and Signal. We are going to have to move unto friend-2-friend systems, where we physically verify one another’s cryptographic signatures. This physical verifying of one another’s digital cryptographic signature is known as a Key Signing Party. It is one of our goals for 2019 that we would like to lead our subscribers in becoming cryptographically savvy enough to host their own key signing parties. We aim that by next year, during Anarchapulco 2020, our community would have the skills necessary to spontaneously verify one another’s cryptographic signatures when meeting in person.
These “parties” are to occur by friend-2-friend invite only. The goal here is on high trust. You invite individuals of whom you need verification of their cryptographic identity. That is, you invite people to verify their digital signatures personally to make sure that the corresponding signature actually belongs to that given individual. The more people enjoin in this practice, the more we grow what will eventually become our own TDV web of trust (WOT).
Remember, you could be interacting within an encrypted medium- but still be talking to the wrong person. Feel free to copy/paste this idea of key signing party to and pass it along. Our goal for 2019 is that you become ever more safe online.
Happy New Year!
by Rafael LaVerde
Source (PDF)
submitted by 2012ronpaul2012 to conspiracy [link] [comments]

Bitcoin Q&A: Mixing services - YouTube Why Is Bitcoin is Pumping? BE CAREFUL! Bitcoin Mixing and Bitcoin Tumbling service - BestMixer.IO ... Bitcoin Source Code/Supply, Halving, Difficulty, Port ... Bitcoin Code Erfahrungen 2020 - Betrug oder seriöse ...

Source Address - The wallet which holds the Bitcoins that you will like to mix. Destination Address(es) - The wallet(s) which you will be assigning to receive the mixed coins. Mixer Address - The Bitcoin address that you will be sending your Bitcoins into. There is presently 1 supported cryptocurrency (i.e. Bitcoin) in the MyCryptoMixer platform. Bitcoin remains the cryptocurrency of choice ... Also known as bitcoin tumbling and bitcoin laundering, bitcoin mixing uses a third-party service to break the connection between the source and destination of bitcoins. In this tutorial, we’ll show you the basics of how it’s done step by step. Afterward, we’ll mention a few other things you can do to “harden” the process, thereby improving security and anonymity for the most cautious ... Bitcoin and Ethereum Source-Code Stored in a Time Capsule for a 1000 years Humankind just faced a huge threat from the epidemic spread of the deadly Coronavirus . As the battle against the virus is still on-going, it not far-fetched to fear apocalypse or global catastrophe in the future. Does anyone know where to get the C++ source code of one workable bitcoin miner? Stack Exchange Network Stack Exchange network consists of 176 Q&A communities including Stack Overflow , the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. A bitcoin mixer service like BitMix.Biz will take your bitcoin, then give you different bitcoin in return. The platform collects everyone’s bitcoin deposits, mixes them up into one central account, and then returns the bitcoins to users. You get the same amount of bitcoin (minus a fee), but different bitcoin from different parts of the blockchain.

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Bitcoin Q&A: Mixing services - YouTube

BE CAREFUL!!! - Why Bitcoin is Pumping In Today's Bitcoin Video I will be taking a look at some simple explanations for Bitcoins price today, a word of caution surrounding how to approach BTC, and ... Presentation Slides: http://averageradical.github.io/compile/#/ Send Tips directly to KevG @ bitcoin:1QDEf7xr33aHGPZUHg9WHQkyGLcYKXcv4i Much of the software ... BestMixer.IO is the bitcoin mixer or bitcoin tumbler, the service that complicates or makes almost impossible tracking of your transactions in bitcoin networ... Watch live: https://ivanontech.com/live How do mixing services work? What are CoinJoin transactions? How much could they improve privacy or anonymity in Bitcoin? CORRECTION: At the start of the vid...

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