Bitcoin wallet - How to set up and create a BTC account ...

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Bitcoining: a simple guide to get you started

Continuum pool is recommended over deepbit, read this post to use that instead. Instructions are virtually the same.
https://deepbit.net/
Sign up for an account. Choose proportional mode.
Download this and this and this.
First one you just extract. Second one is your mining program. Third one is your wallet where you keep track of all your bitcoins.
So you have a deepbit account, right? Well anyways after everything is extracted and installed open up your bitcoin.exe. There is a long string of text near the top in a box. That is your address. That is how you get paid and pay others. Copy that and then goto your account and paste it into the "Your bitcoin address for receiving rewards" box. Save settings.
Now go back to your account and click create worker. Set the worker's login tail to 0 and the password to anything you will remember. Leave payout as proportional and click save settings.
Open up GuiMiner. File>new other miner and navigate to where you extracted that third link(the one with 4 .exes). Select rpcminer-cuda.exe for your new other miner. Name it CUDA. In the guiminer tab for this new miner(the CUDA tab) set the server to other.
Host: pit.deepbit.net
Port: 8332
Username: [email protected]_0 you must add the _0
Password: The password of your created worker
Extra flags: Only needed for more than 1 graphics card, if this is true, read part 2
Go into guiminer and do file > save settings. Now click start mining. The number of MHash/s is completely dependent on your graphics card's power. I have 2 cards that get about 30 MH/s each. To check your mined coins go here.
Okay, so now just a bit of explaining. Your deepbit account is merely a holding place for your coins. To actually spend them you need to payout to your address. To do this goto your account and click the Payment link. You can only pay out if you have over 0.01 BTC. When you pay out it will appear in your bitcoin.exe, it takes a while the first time and every payment after that it is near instantaneous. Once it is in your bitcoin.exe congratulations, you now have bitcoins to spend. To spend them you just get the address of the person who you are sending them to then click the send button on bitcoin.exe, put in their address and the amount.
Also, goto C:\Users\USERNAME\AppData\Roaming\Bitcoin (if you're on windows7) and backup your wallet.dat file. That is your wallet. It has all of your money. Don't delete it.
Part 2, multiple graphics cards.
I have 2 graphics cards so setup took a bit more for me, if you have only 1 ignore this section.
Only a few things you need to do. Go to your deepbit account and click "create new worker". For worker login tail set it to 1. Set the password to something you will remember. Leave payment proportional. Save settings. Now go to your guiminer. In your original CUDA tab with your username as [email protected]_0 go into the extra flags and put in "-gpu=0". Now go to file>new other worker and choose the rpcminer-cuda.exe as before. Name it CUDA2. In the CUDA2 tab have the following settings.
Server: other
Host: pit.deepbit.net
Port: 8332
Username: [email protected]_1 must have the _1
Password: The password you set when you made the new worker on deepbit.
Extra flags: -gpu=1
So you end up with 2 tabs, a CUDA tab that has all the same settings except the email ends in _0 and the extra flags as -gpu=0 and a CUDA2 tab with the email ending in _1 and extra flags are -gpu=1.
File>save settings in guiminer and click start mining on both tabs.
A final piece of advice. This will use your GPU heavily, if you are gaming or anything else and notice that video is lagging go to the tray in the bottom right, find the GuiMiner icon and right click it and close it. Do not click stop mining in guiminer.exe. This always crashes my computer and will likely crash yours. Just close the program from the tray.
If you enjoyed this and I made you free money please donate to me at 1JZbKwV9Rddth7R7MnZSss1EGK2DeXTyZZ
submitted by okiyama to beermoney [link] [comments]

What Can People Do With Your Receiving (destination) Address For Bitcoins

Other than sending you Bitcoins?
submitted by Barfings to Bitcoin [link] [comments]

New receiving addresses for your LocalBitcoins wallet are now Segwit compatible. Segwit addresses start with the number 3. #Bitcoin #Segwit #LocalBitcoins #scalingbitcoin

As above
submitted by furrybeast2001 to Bitcoin [link] [comments]

GET THE FREE 0.005 Bitcoin NOW! No Deposit needed. 100% Free Step 1 : Join and Enter your BTC Wallet Address Step 2 : Claim your Free 0.005 Bitcoin Step 3 : Wait for 3-7 business days processing. Step 4 : Once your claim was successful, You will received your Free 0.005 Bitcoin on the wallet add

GET THE FREE 0.005 Bitcoin NOW! No Deposit needed. 100% Free Step 1 : Join and Enter your BTC Wallet Address Step 2 : Claim your Free 0.005 Bitcoin Step 3 : Wait for 3-7 business days processing. Step 4 : Once your claim was successful, You will received your Free 0.005 Bitcoin on the wallet add submitted by kuryliuk10 to u/kuryliuk10 [link] [comments]

What Can People Do With Your Receiving (destination) Address For Bitcoins /r/Bitcoin

What Can People Do With Your Receiving (destination) Address For Bitcoins /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Gold Wallet 0.15.0

Hey guys, if any of you have a moment to explain a few things to me about Bitcoin Gold Core Wallet 0.15.0 Win x64 downloaded from https://bitcoingold.org/ I would greatly appreciate it.
  1. With the wallet installed and open I go to File/Receiving Addresses. It gives me a BTG address with no option for exposing the private key for that address. Is there a way to export my private keys for these addresses generated in Bitcoin Gold Core Wallet?
  2. Again in File/Receiving Addresses there is a warning at the top that says "These are your Bitcoin addresses for receiving payments. It is recommended to use a new receiving address for each transaction" and again another warning under the receiving tab "Reuse an existing receiving address (Not Recommended)"
What is the purpose of this warning? Lets say I wanted to use this wallet for mining Bitcoin Gold, I obviously cant use a new address for each transaction.
Thanks to anyone willing to clarify!
submitted by RuralDisturbance to BitcoinGoldHQ [link] [comments]

Do you want the QR Code for YOUR BTC WALLET ADDRESS on this T-Shirt? Cryptoniann's online store offers you the opportunity to do just that. Get yours today and receive 25% off your next purchase. /r/Bitcoin

Do you want the QR Code for YOUR BTC WALLET ADDRESS on this T-Shirt? Cryptoniann's online store offers you the opportunity to do just that. Get yours today and receive 25% off your next purchase. /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Do you want YOUR BTC WALLET ADDRESS on this Stainless Steel Water Bottle? Cryptoniann's online store offers you the opportunity to do just that. Get yours today and receive 5 promo codes for you and your friends to get 15% off your next purchase. /r/Bitcoin

Do you want YOUR BTC WALLET ADDRESS on this Stainless Steel Water Bottle? Cryptoniann's online store offers you the opportunity to do just that. Get yours today and receive 5 promo codes for you and your friends to get 15% off your next purchase. /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

New receiving addresses for your LocalBitcoins wallet are now Segwit compatible. Segwit addresses start with the number 3. #Bitcoin #Segwit #LocalBitcoins #scalingbitcoin /r/Bitcoin

New receiving addresses for your LocalBitcoins wallet are now Segwit compatible. Segwit addresses start with the number 3. #Bitcoin #Segwit #LocalBitcoins #scalingbitcoin /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

05-27 04:41 - 'I received the money but thank you for your help. / Now i tried for the second time to sell some bigger amount but the price is back to normal. / I tried with different paypal address but again no luck. What is going on? / Is...' by /u/Ashtrag removed from /r/Bitcoin within 239-244min

'''
I received the money but thank you for your help.
Now i tried for the second time to sell some bigger amount but the price is back to normal.
I tried with different paypal address but again no luck. What is going on?
Is this promo over already? or they somehow know me and the price is down for me?
I really like to exchange some more so please if you know how and what to do tell me.
Also PM me with your contact so i can say thanks to you.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: Ashtrag
submitted by removalbot to removalbot [link] [comments]

Store Opening Information

Please read the Terms and Conditions. We may not respond to emails asking questions that were explicitly stated in the T&C.



US Store - Friday October 23, 2020 – 10 AM Mountain Time (MT)
Canadian Store - Saturday October 24, 2020 - 12 PM Eastern Time (EST)
UK/WW/EU - TBD - Store is waiting on a restock of freebies. Expect the store to open in the next two weeks.

Terms and Conditions
Please be aware that USPS and Canada Post is still experiencing some shipping delays. Please allow up to 21 days for shipping, even when using priority mail service.
To deal with continued shipping delays we have decided to limit the amount of orders we take through the store. Our hope is that this will allow us to process orders in a timely manner, but also have the bandwidth to follow up with customer service issues that could result from extended shipping delays. The store will close when we hit our order limit, this does not mean all items are sold out. In the past we have hit this order limit in the first few hours of store opening, so be sure to place your order as quickly as possible.
We will open the store again when all orders have processed, and shipping issues have been dealt with. In the meantime, you can order from several Seed Banks that have our stuff in stock! > https://www.mephistogenetics.com/stockists/usa-distributors
  1. The payment methods available for this event are limited to Debit/CC and Bitcoin. Info about payment methods - https://www.mephistogenetics.com/info/payments
  2. Please allow 15 BUSINESS days for your order to process and ship. An order status of processing means your payment has been approved and is awaiting shipment. You will receive a tracking email once your order has shipped. Orders will ship out in batches every day, but it may take up to 15 BUSINESS days for your order to be processed.
  3. Orders are processed on a first come, first served basis, first paid first shipped basis.
  4. Please take care when placing your order, we are not able to add on/remove items or make other changes to your order. All sales are FINAL.
  5. Please double check your address, confirm the street, unit # and postal code is correct before going through with the order. We ARE NOT accountable for missing orders if the address provided is incorrect.
US Stock List
Reserva – Double Grape, ManBearAlienPig, Toofless Alien
Medical – Canna-Cheese 1:1
Originals –Sour Crack
Artisnals – Livers bx1, Orange Diesel (Limited Restock), 3 Bears OG, Crème De La Chem, Northern Cheese Haze, Skywalker, Sour Stomper, Fugue State
Merch – 2019 Strain Sticker Pack, Mephisto Swag Pack, Stealth Piggy Pin, Crest Piggy Pin
US Freebies - Heisenberg x 3BOG, Stilton x 3BOG, (SS x CDLC) x Forum, (CDLC x 3BOG) x Sour Stomper, MBAP x 3BOG, 3BOG x Sour Bubbly

Canada Stock List
Reserva – Double Grape, ManBearAlienPig
Originals –Toof Decay (only 7 packs)
Artisnals – 3 Bears OG, Crème De La Chem, Forum Stomper, Fugue State, Livers Bx1, and Sour Stomper
Medical – Canna–Cheese 1:1
Canada Freebies - 3BOG x Double Grape, MBAP x 3BOG, Beary White x 3BOG

Freebie Tiers - USD - Order Total (Shipping not included)
25-50$ - 2 Seeds
50-100$ - 5 Seeds
100-150$ - 7 Seeds
150$+ - 15 Seeds
submitted by stan_mephisto to MephHeads [link] [comments]

FYI: yesterday I got trolled by someone using a password from a hacked account, and fishing for a payout. The password was a simple one I used on a few old accounts. It was really a blessing, because it finally motivated me to set up 1Password, and start migrating my 400+ accts/logins to it.

In case any user has a related question, you'll know why... The subject of the email was my old password. Here's the body:
I know [xxxx] is one of your password on day of hack.
Lets get directly to the point.
Not one person has paid me to check about you.
You do not know me and you're probably thinking why you are getting this email?
in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean).
When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam.
immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account.
after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you.
Best solution would be to pay me $1007.
We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video.
My -BTC -address: [wishful thinking]
[case SeNSiTiVe, copy & paste it]
You could go on your life like this never happened and you will not ever hear back again from me.
You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google).
if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too.
I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid.
if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on.
Nevertheless, if i do get paid, i will destroy the recording immediately.
If you need proof, reply with Yeah then i will send out your video recording to your 8 friends.
it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message.
submitted by cad908 to sysadmin [link] [comments]

Proposal: The Sia Foundation

Vision Statement

A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong.
In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things.
What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do.
You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us.
At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming.
Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born.
Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized.
Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung.
The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance.
Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
 

Overview

Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.

Organizational Structure

The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community.
The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.

Funding

The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork.
As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks.
The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.

Responsibilities

The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.

Maintain and enhance core Sia software

Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest.
Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release.
Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer.
A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software.
With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code.
Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire.
Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above.
As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.

Support community services

We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours.
Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.

Ensure easy acquisition and storage of siacoins

Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.)
Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion.
Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants.
Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.

Protect the ecosystem

When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary.
The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU.
In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.

Drive adoption of Sia

Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers.
In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.

Fund Management

The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months.
On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well.
The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets.
Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses.
 
Addendum: Hardfork Timeline
We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
 
Addendum: Inflation specifics
The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
 

Conclusion

We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve.
Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
submitted by lukechampine to siacoin [link] [comments]

Transcript of how Philip the tyrant admin of the Bitcoin Cash Telegram group called Spoice stupid, an idiot, a parrot among other insults then banned her instead of discussing Bitcoin Cash. That Telegram group is hostile, ABC/IFP shills run and follows the rBitcoin toxic censorship modus operandi.

David B., [18.10.20 01:46]
https://www.reddit.com/btc/comments/jdagi3/whats_up_with_the_bchn_hypocrisy/

David B., [18.10.20 01:47]
Wut x2

J Stodd, [18.10.20 01:49]
[In reply to David B.]
Their words are meaningless. They have no principles. Wish i could comment but bitcoinxio banned me from rbtc and never told me why

David B., [18.10.20 01:59]
These comments are so toxic

Spoice, [18.10.20 01:59]
In reality, the real continuation of Bitcoin as we all know it is what is carried on by BCHN, BU, BCHD and others

Spoice, [18.10.20 02:00]
ABC is changing the rules to something that is not Bitcoin

Spoice, [18.10.20 02:00]
anyone denying those facts is selling you snake oil

Spoice, [18.10.20 02:00]
If Blockstream tried to take some % to their own benefit, we would have never needed BCH in the first place

Spoice, [18.10.20 02:00]
everyone would have rejected them in a second

J Stodd, [18.10.20 02:01]
[In reply to Spoice]
Bitcoin Cash is not Bitcoin to start with, so who cares?

David B., [18.10.20 02:01]
[ Album ]

Spoice, [18.10.20 02:01]
yet we have ABC trying to pull this theft and all those puppets think it's ok

Spoice, [18.10.20 02:01]
JSTodd that's bullshit

David B., [18.10.20 02:01]
Like trying to talk to a core maxi about altcoins

Spoice, [18.10.20 02:01]
Bitcoin Cash is the most Bitcoin out of all Bitcoins

Spoice, [18.10.20 02:01]
it is the continuation of what Satoshi started

David B., [18.10.20 02:02]
Tbh they aren't even toxic

Michael Nunzio, [18.10.20 02:02]
[In reply to Spoice]
If the hash follows then it is Bitcoin Cash. Only if it doesn't is your claim true

J Stodd, [18.10.20 02:03]
[In reply to Spoice]
Bitcoin is Bitcoin. Bitcoin failed to be Peer to Peer Cash, so Bitcoin Cash attempted to fix this by forking Bitcoin and attacking the root of the problem. This does not mean Bitcoin Cash is literally Bitcoin. Adopt a different argument. Sorry if you bought into that bc of Rogers rantings

J Stodd, [18.10.20 02:05]
Bitcoin Cash can replace Bitcoin, and if Bitcoin dies and BCH wins then sure maybe it can take its name from its grave, but they are different products, trying to say Bitcoin stopped being "Bitcoin" and became BCH is a self contradiction.

Jingles, [18.10.20 02:08]
Jstodd's got some good points.

Jingles, [18.10.20 02:08]
He's learnt so much in the last year ☺️

Spoice, [18.10.20 02:08]
"Bitcoin is Bitcoin" is a false statement. BTC is just an instance of Bitcoin. Bitcoin is the set of rules defined in the whitepaper first and foremost, it is peer to peer electronic cash. BTC no longer fits that criteria. Bitcoin Cash meets them. The fork proposed by ABC also fails to meet that criteria. Therefore the continuation of Bitcoin is in whatever BU, BCHN, Flowee and others will continue.

Jingles, [18.10.20 02:09]
What rules were defined in the WP?

Spoice, [18.10.20 02:10]
Let's see which rules aren't: 1) No coinbase tax going to any centralized entity such as ABC 2) No throttling of TX throughput such as BTC

Spoice, [18.10.20 02:10]
therefore they both fail the simple "Is this Bitcoin?" test

Spoice, [18.10.20 02:11]
Finally, Michael, if you think Hash rate defines what Bitcoin is, you should stick to BTC

Jingles, [18.10.20 02:11]
21 million coins isn't in the WP

Jingles, [18.10.20 02:11]
I asked what rules did the WP define.

Spoice, [18.10.20 02:12]
Because BCH failed that criteria since it forked, therefore your point is wrong

Spoice, [18.10.20 02:12]
https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html

Spoice, [18.10.20 02:12]
The announcement of the white paper included the 21 million limit, close enough

Jingles, [18.10.20 02:12]
HIs announcement isn't the WP

Spoice, [18.10.20 02:12]
show me where Satoshi said that Amaury shoudl tax the chain?

Spoice, [18.10.20 02:12]
Doesn't matter- close enough

Jingles, [18.10.20 02:12]
Bitcoin is the set of rules defined in the whitepaper first and foremost - You

Jingles, [18.10.20 02:13]
My ears pricked up on that comment, so I'm asking you what you meant.

Spoice, [18.10.20 02:13]
Correct. Changing the 21 million hard limit is still more Bitcoin than taxing the Coinbase, yet both will never ever happen. Not to Bitcoin anyway

Jingles, [18.10.20 02:13]
If you meant Satoj's writings pre and post WP then you should be clear about it

Spoice, [18.10.20 02:13]
some bastardized chain might, just not Bitcoin

Jingles, [18.10.20 02:14]
The closest we have to anything to indicate what is "Bitcoiness" is general things like "the longest chain"

Spoice, [18.10.20 02:14]
No, it is never a single thing

David B., [18.10.20 02:15]
REEEE

Jingles, [18.10.20 02:15]
trustless, no single trusted third parties, and rules can change due to incentives via consensus

Spoice, [18.10.20 02:15]
it is a set of common sense and experiment driven and historical relevance and initial parameters and "peer to peer electronic cash" definition indicators

Spoice, [18.10.20 02:15]
never a single thing

Jingles, [18.10.20 02:16]
[In reply to Spoice]
This is like the exact opposite of what you said earlier

Jingles, [18.10.20 02:16]
Bitcoin is defined by the rules in the WP, I mean common sense.

Jingles, [18.10.20 02:16]
🤷‍♂️

Spoice, [18.10.20 02:16]
Nope, the rule set is defined in the white paper should never change, but I never said all rules are defined in the white paper

Jingles, [18.10.20 02:16]
What rules?

Spoice, [18.10.20 02:16]
It is a union

Jingles, [18.10.20 02:17]
What rules are there?

Spoice, [18.10.20 02:17]
Rules in the white paper + what continued to define Bitcoin thereafter

J Stodd, [18.10.20 02:17]
[In reply to Spoice]
> "Bitcoin is Bitcoin is a false statement."
Alas, if we cannot agree on the law of identity, aka A=A, then i dont understand how to hold a conversation with you using logic.
> BTC is an instance of Bitcoin
No, BTC is a ticker used optionally by exchanges. Other common tickers for bitcoin include XBC, XBT, BC (correct me if im wrong on any of these)
> "Bitcoin is a set of rules in the whitepaper"
Super hard to defend this. Theres no mention of a 21M supply cap, no blocksize limit *at all*, and it also says additional rules and incentives can be enforced (implying maybe they should).

Jingles, [18.10.20 02:17]
I go through this with BSVers all the time. We have no spec sheet of rules defining what Bitcoin is from Satoshi.

Spoice, [18.10.20 02:18]
Rules such as what defines a correct block, miners receiving the full incentive of mining it, etc

Jingles, [18.10.20 02:18]
The WP is a highlevel document

Spoice, [18.10.20 02:18]
The WP is a description of a scientific experiment

Spoice, [18.10.20 02:18]
if you want to start your own experiment, be my guest

Jingles, [18.10.20 02:18]
[In reply to Spoice]
Valid tx rules aren't defined in the WP

Spoice, [18.10.20 02:18]
just don't try to call it Bitcoin

Jingles, [18.10.20 02:19]
The word majority is in the WP an awful lot wouldn't you say?

Spoice, [18.10.20 02:19]
Not valid TX rules, but what a proof of work block is and how it diverts the reward to the miner, etc

Jingles, [18.10.20 02:20]
[In reply to Spoice]
and? what about BTC doesn't apply?

Jingles, [18.10.20 02:20]
I'm not arguing for any fork of BCH here.

Spoice, [18.10.20 02:20]
It no longer meets the very title of the white paper experiment, "Peer to peer electronic cash"

Spoice, [18.10.20 02:20]
The BTC instance of the experiment is destined to move away from the very title of the white paper

Jingles, [18.10.20 02:20]
It's electronic, and I use it like cash.

Spoice, [18.10.20 02:20]
that the maintainers even wanted to edit the white paper (Cobra and co) because of this fact

J Stodd, [18.10.20 02:20]
u/Spoice When did BTC stop being Bitcoin in your view? The day Amaury decided to launch the fork, before Segwit happened?
If someone else launched a fork first, they would have been "the real bitcoin"?
This is a game of whoever forks first becomes the real Bitcoin?
What if two people launched a fork at the exact same time, maybe even with identical specs?

Jingles, [18.10.20 02:21]
Where did I go wrong?

Jingles, [18.10.20 02:21]
[In reply to Spoice]
Did they?

Spoice, [18.10.20 02:21]
Doesn't matter if you use it today, its very technical fabric will have to move your transactions to 2nd layers and it will no longer be peer to peer electronic cash on chain

Jingles, [18.10.20 02:21]
peer to peer electronic cash on chain - Not in the wp

Jingles, [18.10.20 02:22]
We have satoj talking about HFT with sidechannels.

Jingles, [18.10.20 02:22]
So what?

Jingles, [18.10.20 02:23]
I think this is a good discussion Phil, nothing disrespectful is being said. I hope this is ok?

Spoice, [18.10.20 02:23]
Doesn't matter, the rule of common sense, which is closer to that title? Increasing a simple variable (Blocksize) to stay on track of the title and experiment, or introduce IOUs and Watchtowers and channels and locked BTC and that whole LN Bastardization? Which is close to the title?

Jingles, [18.10.20 02:23]
No one said that can't happen

Michael Nunzio, [18.10.20 02:24]
[In reply to Spoice]
Congratulations you've made an argument which isn't an argument.

Jingles, [18.10.20 02:25]
The whole thing that was said was the system is based on majority rules, and incentives can be changed. Majority breaks any deadlock.

David B., [18.10.20 02:25]
How to kill a coin 101

Spoice, [18.10.20 02:25]
Logic fails anyone who tries to claim BTC, ABC, BSV or any similar standalone experiments as Bitcoin, because of simple sanity checks and logic checks, often stemming out of common sense - If what you have moves you a single step away from what is otherwise the same old experiment which Satoshi wrote about and unleashed, you're not Bitcoin. If what you have moves you a step closer, it is Bitcoin. and so on and so forth.

Phlip - Not giving away coins, [18.10.20 02:25]
Wow, really fanatical almost religious statements. I guess its Sunday morning.

Jingles, [18.10.20 02:27]
[In reply to Spoice]
There's nothing common about common sense. You point to the WP to make a point, and your point isn't in there.

Spoice, [18.10.20 02:27]
Throttled and you need off-chain IOUs and always-on services to function (BTC) ? Not Bitcoin. Requires permission to be used and could be centrally confiscated on the whim of the organization behind it (BSV)? Not Bitcoin. Premined (Bitcoin Gold, Diamond)? Not Bitcoin. Taxing the miners through Coinbase and changing the incentives which were at play since day 0 (ABC)? Not Bitcoin

Spoice, [18.10.20 02:27]
simple checks really, yet those who are set to benefit will of course be oblivious to these

Phlip - Not giving away coins, [18.10.20 02:28]
This whole “Bitcoin Cash is the true Bitcoin - see whitepaper” is really stupid. It also ignores the history of how Bitcoin Cash came into existence

Jingles, [18.10.20 02:28]
Phillip, remove anyone here that has said Bitcoin Gold was the original Bitcoin immediately

Jingles, [18.10.20 02:28]
^^^^

Jingles, [18.10.20 02:29]
[In reply to Phlip - Not giving away coins]
It falls to pieces the moment it's questioned.

Spoice, [18.10.20 02:29]
It is not about "True" Bitcoin

Spoice, [18.10.20 02:30]
It is about the Bitcoin closest to the experiment which always was

Spoice, [18.10.20 02:30]
I don't care about "True" or not, they all are true

Phlip - Not giving away coins, [18.10.20 02:30]
[In reply to Jingles]
Sorry, I hve stopped reading all the sillyness above. Will reread later

Jingles, [18.10.20 02:30]
[In reply to Phlip - Not giving away coins]
I'm joking around 😂

Spoice, [18.10.20 02:30]
but the rule of entropy says I shouldn't place my money nor effort in experiments which are set to fade eventually, because they have skewed incentives

Phlip - Not giving away coins, [18.10.20 02:31]
[In reply to Spoice]
You get to chose that for yourself but you do not get to dictate it for others

David B., [18.10.20 02:31]
[In reply to Phlip - Not giving away coins]
Don't read it. You will have no braincells left

Spoice, [18.10.20 02:31]
Bitcoin as we know it has a long track record of incentives which work

Spoice, [18.10.20 02:31]
I won't ever dictate it for others

Spoice, [18.10.20 02:31]
I only would dictate it for myself, just like how I never use BTC or BSV today, I won't use ABC tomorrow

Spoice, [18.10.20 02:32]
only because they're new experiments

Spoice, [18.10.20 02:32]
interesting, and I wish them luck

Jingles, [18.10.20 02:32]
"Bitcoin is Bitcoin" is a false statement - Spoice 2020

Spoice, [18.10.20 02:32]
but I would rather stick to the Bitcoin I know

Spoice, [18.10.20 02:32]
that's all

Jingles, [18.10.20 02:32]
I won't ever dictate it for others - Also Spoice
Phlip - Not giving away coins, [18.10.20 02:32]
Bitcoin Cash came with a plan snd goals. They were clearly presented in two presentations that happened before viabtc announced they would mine with ABC software and create a coin and chain named Bitcoin Cash

Spoice, [18.10.20 02:32]
Yes, because he means BTC is Bitcoin, and that's a false statement

Jingles, [18.10.20 02:32]
How is it false?

Spoice, [18.10.20 02:32]
It is an instance of Bitcoin

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:33]
[In reply to Michael Nunzio]
you're looking intimidatingly handsome in your new profile picture

Phlip - Not giving away coins, [18.10.20 02:33]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
Lol

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:33]
[In reply to J Stodd]
actually a good question

Spoice, [18.10.20 02:34]
Anyway, those are my two cents

Spoice, [18.10.20 02:34]
Everyone is free to choose which experiments to pour their effort on and their money in

Phlip - Not giving away coins, [18.10.20 02:34]
[In reply to Spoice]
You are entitled to your opinion.

Spoice, [18.10.20 02:34]
Andreas is publishing Lightning Network books, I mean

Spoice, [18.10.20 02:34]
So to each his own

Phlip - Not giving away coins, [18.10.20 02:35]
[In reply to Spoice]
Lets leave it at that

Spoice, [18.10.20 02:35]
but Bitcoin as I know it continues with no Tax, and that in my opinion is BCH with no tax

Phlip - Not giving away coins, [18.10.20 02:35]
Ah you had to continue

Phlip - Not giving away coins, [18.10.20 02:36]
Good thing no tax is proposed by anyone
Spoice, [18.10.20 02:35]
Isn't this the Bitcoin Cash telegram?

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:35]
😅

Spoice, [18.10.20 02:36]
If I don't discuss Bitcoin Cash here, where should I?

Spoice, [18.10.20 02:36]
Tax, IFP, call it what you will

Spoice, [18.10.20 02:36]
from my perspective as a user, it's one the same

J Stodd, [18.10.20 02:36]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
I bet nobody will answer it, either

Phlip - Not giving away coins, [18.10.20 02:37]
[In reply to Spoice]
Apparently btc /s

David B., [18.10.20 02:37]
[In reply to Spoice]
As a user what do you care?

Jingles, [18.10.20 02:37]
Ooh, can I shill the Bitcoin room in here?

Spoice, [18.10.20 02:37]
Nah, I prefer quick responses and chats

Spoice, [18.10.20 02:37]
Reddit is broken

Phlip - Not giving away coins, [18.10.20 02:37]
[In reply to Jingles]
Lol

J Stodd, [18.10.20 02:37]
[In reply to Spoice]
Nobody even pays it, it just comes out of the block reward. The block reward is not sentient, it cannot be stolen from or wronged

Phlip - Not giving away coins, [18.10.20 02:37]
Dont push your luck 😉

Jingles, [18.10.20 02:37]
[ 😀 Sticker ]

Michael Nunzio, [18.10.20 02:38]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
You too brother. 🙏

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:38]
[In reply to Michael Nunzio]
but mine is the same....i need new ones everyone always calls me fat because of this one

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:38]
literally if i say 1 thing to any troll anywhere first thing they say is "ok fatass"

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:38]
i blame this dumb photographer

Michael Nunzio, [18.10.20 02:38]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
Don't listen.

Phlip - Not giving away coins, [18.10.20 02:39]
u/spoice maybe write a read.cash article if you really feel you need to educate people

Spoice, [18.10.20 02:39]
David, as a user I believe that each new experiment carries risk with it, why should I take part in a new fork of Bitcoin which has a new set of game-theory rules which doesn't even benefit me, rather it benefits some other entity which will take 5% of any effort or economic activity I produce on this chain? They're also off-loading the risk to me as a usebuildebusiness who choose to join their experiment.

Spoice, [18.10.20 02:40]
Why should I take that risk while the Bitcoin I know and have known for over 10 years worked perfectly for me thus far? (BCH, that is)

Jingles, [18.10.20 02:40]
small fees and empty blocks?

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:41]
It will insure that a centralized group has control over development and they are by decree in the code, it's a literal take over.

Phlip - Not giving away coins, [18.10.20 02:41]
[In reply to Spoice]
“BSV-freeze the protocol - true Bitcoin” sounds like more your thing

David B., [18.10.20 02:41]
[In reply to Spoice]
Better run bitcoin core 0.1

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:41]
Imagine if satoshi keyd his address in the code to be paid out of every block, but instead of paying himself started a company "Bitcoin Dev Co"

Spoice, [18.10.20 02:42]
Not really, BSV kills the incentives I am discussing too

Phlip - Not giving away coins, [18.10.20 02:42]
[In reply to Jingles]
Please stay nice now

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:42]
No one would ever be able to say Bitcoin was Decentralized, Bitcoin Dev Co would get paid directly from the reward.

Jingles, [18.10.20 02:42]
[In reply to Phlip - Not giving away coins]
"BSV: We have all the Bad Idea. On chain"

Spoice, [18.10.20 02:42]
The Nash equilibrium we have tested for the past 10 years will be changed with ABC, it changed with BTC and BSV too

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:42]
"Bad Solutions Verified"

Spoice, [18.10.20 02:42]
that game-theory set of incentives

Spoice, [18.10.20 02:43]
why would I want to take a risk with any of those experiments when I gain 0?

David B., [18.10.20 02:43]
Better run bitcoin core 0.1

Spoice, [18.10.20 02:43]
Nope, you're talking technical freezing of development, that's not what I am addressing

Jingles, [18.10.20 02:43]
[In reply to David B.]
Thats the BTC chain though

Phlip - Not giving away coins, [18.10.20 02:43]
[In reply to Spoice]
O please share with us your background in the subject. Or are you now just parroting others

Spoice, [18.10.20 02:44]
BSV wants to freeze the technical development and they want a stable protocol from an API/development perspective

Spoice, [18.10.20 02:44]
but from an incentive ruleset perspective, they already butchered the equilibrium Bitcoin had

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:44]
[In reply to Phlip - Not giving away coins]
That's one of those phrases, when you hear it you know they are just a parrot of someones propaganda. "MUH NASH EQUILIBRIUM!"

David B., [18.10.20 02:44]
Stable = bad?

Jingles, [18.10.20 02:45]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
I love you

Spoice, [18.10.20 02:45]
Philip, for an admin you are ought to be nicer, if you think I am parroting others you're free to think that, but to state it so bluntly in your position is just... wrong

Spoice, [18.10.20 02:46]
If you think the point I made is wrong, discuss it

Phlip - Not giving away coins, [18.10.20 02:46]
[In reply to Jingles]
Maybe talk to him in DM about that?😉

Spoice, [18.10.20 02:46]
not me

Jingles, [18.10.20 02:46]
[In reply to Phlip - Not giving away coins]
working on it.

Phlip - Not giving away coins, [18.10.20 02:46]
[In reply to Spoice]
I ought to be nicer...😂😂😂

Spoice, [18.10.20 02:47]
Also, anyone who studied Bitcoin at length and its set of incentives and game-theory ruleset should know what a Nash Equilibrium is and who the players are in the Bitcoin game

Phlip - Not giving away coins, [18.10.20 02:47]
[In reply to Spoice]
You state as fact. You get to dhow why your statements or opinions are even relevant.

Spoice, [18.10.20 02:48]
If it's not a fact, highlight how

Spoice, [18.10.20 02:48]
don't attack me

Spoice, [18.10.20 02:48]
prove me wrong

Spoice, [18.10.20 02:48]
if you fail that simple debate test

David B., [18.10.20 02:48]
How's that breakfast helping?

Spoice, [18.10.20 02:48]
you should rename from Janitor to Tyrant

Jingles, [18.10.20 02:48]
I'm still waiting to see the defined rules as per the wp

Michael Nunzio, [18.10.20 02:49]
[In reply to Spoice]
Didn't know this was stand up comedy night in here.

Michael Nunzio, [18.10.20 02:49]
I missed the memo

Phlip - Not giving away coins, [18.10.20 02:49]
If I have to prove all idiots on the internet wrong I would have a hard time. You are starting to really waste everybody’s time. You state, you prove. Or you are just generating noise

Phlip - Not giving away coins, [18.10.20 02:50]
[In reply to Spoice]
Be careful now.

Michael Nunzio, [18.10.20 02:50]
Noisy bugger.

Phlip - Not giving away coins, [18.10.20 02:52]
Getting close to just do some cleaning up.

Spoice, [18.10.20 02:52]
If you can't debate technical points I am making about Bitcoin Cash on a Bitcoin Cash Telegram, and within the span of 10 minutes you called me stupid, idiot, noisy and a parrot, you absolutely are a tyrant and I stand by my point: You should not be an admin here, nor anywhere actually. If you think I should be careful for the fear of you banning me, go ahead. You still fail to debate the simplest technical point and yet claim you can "but can't be bothered to". You remind me of that Thermos guy.

Spoice, [18.10.20 02:53]
How do people with 0 technical know how end up in these admin positions is beyond me

Jingles, [18.10.20 02:53]
I challenged your comments and you just changed the goal posts.

Phlip - Not giving away coins, [18.10.20 02:53]
[In reply to Spoice]
Ok. You are not paying me and you are free to create noise elsewhere
submitted by wisequote to btc [link] [comments]

The Blackmail Email Scam (part 6)

IF YOU RECEIVE A BLACKMAIL EMAIL, PLEASE REDACT THE PERSONAL INFORMATION AND POST IT AS A COMMENT ON THIS THREAD SO THAT OTHERS WHO RECEIVE THE SAME EMAIL CAN FIND IT THROUGH GOOGLE.

BLACKMAIL EMAIL SCAMS ARE ALSO SENT VIA SMS (TEXT) AND PHYSICAL MAIL. REGARDLESS OF THE METHOD, THEY ARE SPAM AND THE POST BELOW GIVES YOU INFORMATION AND ADVICE ABOUT WHAT TO DO.

FIRST THREAD: https://reddit.com/Scams/comments/8gsjba/the_blackmail_email_scam/

SECOND THREAD: https://reddit.com/Scams/comments/9srjen/the_blackmail_email_scam_part_2/

THIRD THREAD: https://reddit.com/Scams/comments/biv65o/the_blackmail_email_scam_part_3/

FOURTH THREAD: https://reddit.com/Scams/comments/dohaea/the_blackmail_email_scam_part_4/

FIFTH THREAD: https://old.reddit.com/Scams/comments/g8jqnthe_blackmail_email_scam_part_5/

There have been many recent posts about the blackmail email scam, so I have written this post and will keep it stickied until the posts about the scam die down. Blackmail email scams have that name because they started as an email spam campaign, however there have also been reports of these scams being sent via SMS and physical mail. If you are reading this because you have received one of these emails and you are worried, you can stop worrying. The blackmail email scam is a spam campaign that is sent out to thousands of addresses at a time. The threats are lies and you do not have anything to worry about. In many cases, the emails will contain some sort of privileged information about you such as your name, part or all of your phone number, and your password. The emails may also look like they were sent from your own email address. The data is gathered from data breaches, and if the email looks like it came from your account that is due to email spoofing. You can use the service Have I Been Pwned? to see if you are in any publicly known data breaches. If you receive an email that contains a password that you currently use, you should immediately change that. Current recommended password guidelines say that you should use a different, complex password for every account. You can generate and save passwords using a password manager for convenience. You should also be using two factor authentication using an app like Google Authenticator instead of receiving codes through SMS.
Here are some news articles about this scam. Here is a story from Brian Krebs, and here is a story from the New York Times.
Below are a few examples, but if you receive an email that is similar but not the same as the examples you see, that does not matter and does not mean that the email is real. The spammers constantly switch up their templates in order to bypass spam filters, so it's normal to receive an email that hasn't yet been posted online.

EXAMPLES

Hey, some time ago your computer was infected with my private malware, RAT (Remote Administration Tool).
I know at the time of infection your passwords was: xxxxxxxxxxx
My malware gave me full access to all your accounts, contacts and it also was possible to spy on you over your webcam.
Sometimes when I was bored I was spying on you, then once you started to SATISFYING YOURSELF!
At first I didn't knew how to react as I was shocked, then I decided to record you, I checked on google and found the software: Bandicam and it did the job.
After that I removed my malware to not leave any traces and this email was sent from some hacked account.
I can send the video of you to all your friends, contacts and publish it on social networks and the whole web.
You can stop me and only I can help you out in this situation.
Pay exactly 740$ in Bitcoin (BTC).
It's easy to buy Bitcoin (BTC), for example here: https://paxful.com/buy-bitcoin , https://www.buybitcoinworldwide.com/ , https://www.kraken.com/ , or google another exchanger.
My Bitcoin (BTC) wallet is: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Yes that's how the wallet looks like, copy and paste it, it's (cAsE-sEnSEtiVE)
I give you 3 days time to pay.
As I got access to this email account, I will know if this email has already been read, so the time is running.
After receiving the payment, I will remove the video and you can life your live in peace like before.
Learn from the mistake and update your browser before browsing the web next time!
I know XXXX is one of your password on day of hack..
Lets get directly to the point.
Not one person has paid me to check about you. You do not know me and you're probably thinking why you are getting this email?
in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean).
When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam.
immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account.
after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you. Best solution would be to pay me $1004.
We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video.
My -BTC -address: 1GohL1jDz8BapZhohN2Xry6AKPq6PiJrjw [case SeNSiTiVe, copy & paste it]
You could go on your life like this never happened and you will not ever hear back again from me. You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google).
if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too.
I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid.
if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on.
Nevertheless, if i do get paid, i will destroy the recording immediately.
If you need proof, reply with Yeah then i will send out your video recording to your 8 friends. it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message.
I know xxxxxxxxxxxx is one of your password on day of hack.. Lets get directly to the point.
Not one person has paid me to check about you.
You do not know me and you're probably thinking why you are getting this email?
in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean).
When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam.
immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account. after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you.
Best solution would be to pay me $1013.
We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video.
My -BTC -address: 1KzA7GYSyvXCmPpojZ4qTbZGmjjbbSfwBg
[case SeNSiTiVe, copy & paste it]
You could go on your life like this never happened and you will not ever hear back again from me.
You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google). if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too. I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid.
if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on. Nevertheless, if i do get paid, i will destroy the recording immediately. If you need proof, reply with Yeah then i will send out your video recording to your 8 friends. it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message.
Lets get directly to the point.
Not one person has paid me to check about you. You do not know me and you're probably thinking why you are getting this email? in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean).
When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam.
immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account.
after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you. Best solution would be to pay me $1002.
We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video.
My -BTC -address: 1JXvEapcRCvywymcrYZ1rcCfLfNZKri4LP [case SeNSiTiVe, copy & paste it]
You could go on your life like this never happened and you will not ever hear back again from me.
You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google).
if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too. I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid.
if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on. Nevertheless, if i do get paid, i will destroy the recording immediately.
If you need proof, reply with Yeah then i will send out your video recording to your 8 friends.
it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message.
Hello!
I'm the software engineer who hacked into your device's OS.
I've been observing you for months now. The thing is, you've been infected with malware through the adult website you visited.
In case you're not familiar with it, I'll explain. The Trojan infection gives me full access and control over your computer or any other device on your local. It means that I can see everything on your screen, turn on my camera and microphone, but you do not know about it.
I also have access to all your contacts, social networking data and all your correspondence.
Why didn't your antivirus detect any malware? A: My malware uses a driver, I update its signatures every 4 hours to keep your antivirus silent.
I have made a video showing how you satisfy yourself on the left side of the screen, and on the right side you see the video you have been watching. With one click, I can send this video to all your contacts in the email and social networks. I can also publish access to all your emails and messaging apps that you use.
If you want to prevent this, at that point: Transfer $400(USD) to my bitcoin wallet (if you do not know how to do it, then type in to Google: "Purchase a bitcoin").
My Bitcoin Wallet:1EGBGBptS9yKNPYYU9qUEoPNLptee8CEq9
After getting the payment, I will destroy the video and you won't hear from me again. I will provide you 50 hours (more than two days) to pay. I have a notice that you read this email and the timer started you opened it.
Don't attempt to answer me. It doesn't make any sense (the sender's address is generated by random). Filing a complaint somewhere doesn't make sense, because this email cannot be tracked, and neither can my bitcoin address. I don't make mistakes.
If I find that you shared this message with someone else, the video will be distributed immediately. Good luck with that.
And here are some common keywords used in the email so that this thread can be found by people Googling the email:
"Marlware, international hacker group, No‌ p‌erso‌n has co‌mp‌ensat‌ed, very o‌wn vid‌eo‌ cli‌p, software on the adult, porno sitio, one of your pass word, .br, specific pixel, sexual content web portal, a malware on the adult, a malware on the, double-screen, is a reasonable price tag for our little secret, you have a good taste lmao, I placed a malware on the adult vids, your browser began operating as a RDP, had been abusing yourself in front of computer display, you are one of those people that downloaded the malicious, I made a split-screen video, While you were watching the video, your web browser acted as, malware on the porn website and guess what, an unique pixel, you jerked off while watching an online video, When you pressed the play button the virus begins saving all the things thru, ja.scr, My malicious soft started your front cam, and also send the video link to all of yourfriends, I infected your gadget with a malware and now, AnywaysI downloaded all contacts, my program quickly got into your system, To a time where you jerk off watching","For the present moment I have at my disposal all, When you arouse sexually watching porno, In such a way all needed compromising material and contact, All information to yours SNSs user accounts, You watched sexual content portal and toss","Hello! WannaCry is back! All your, in front of the screen browsing adult stuff, As you flog the dummy watching, U are going to be offered 5 days after checking this notice, RAT 68006, the damnific malware, pastime and entertainment there, not my single victim, beat the dummy, buff the muffin, choke a chicken, front camera capturing video, with you frigging, with you chaturbating, with you masturbating, web digicam, U are going to have 5 dayss, i utilize just hacked wi, pressured this trojan to, glue a pair of videos, glue two videos, the RAT, if you want me to destroy this whole video, downloaded all contacts from your computer, your list of contacts or relatives will, I made a video that shows how you masturbate, hacked you through a virus in an ad on a porn website, my illiteracy, nоt mind on my illiterаcy, I рilfered all рrivy bаckground, videоtaре with yоur masturbаtion, my delеtеrious soft, cаmеra shооt the videоtaрe, you sеlf-аbusing, Differently I will send the video to all your colleagues and friends, your front-camera made the videotape with you self-abusing, RAT 98390 malware, the minute you went to one adult page, information to contact info I discovered on your devices and remember there is a lot of these, not including Double VPN As a result, I forced my malware to hook up to a mic, web camera and catch the video from it, poisoned a number of adult sites, video clip to fit on a single tv screen, This letter has invisible monitoring program inside and i will be aware of when you are going to check, doing ur stuff and a clip u jerked to, the investigation will last, I uploaded our malicious program on your device, furthermore malware saved exactly the video you chose, its a record with your wanking, friends will see u taking proper care of yourself, Your system is controlled by the malicious program, If you were more careful while playing with yourself, that whacking off to adult web-sites is, adult website which was poisoned with my malware, nor i think that jerking off to porn sites is really a gross thing, so I dgf lmao, proof just reply to this email with, if you want me to destroy all this compromising evidence, will send your video to 5 contacts, amount in Usd that can cope with this scenario, You are welcome to contact your local authorities, If you want proof, reply with, i pride myself in being apart of an internet group, so i dgf, I take good care of my being anonymous, information related to the RAT virus, been able get in to all ur units, to all of your contacts including, search engines like goo, case sensitive, so copy,, and at this moment I, It is a non-nego, don't waste my perso, thi s mes, back while visiting, showe ring, what should you do ?, porno webpage, this embarrassing situation, navigated to the page, bare-assed, on well-known websites and publications, I got an order from someone to kill you and your family, immediately kill your family, is an explosive device, My mercenary is, explosive device detonates, triggered your webcam, piquant websites, my exploit downloaded, replenish btc wallet, i‌nstanta‌neo‌usly ‌erase, actua‌l r‌eco‌rded ma‌t‌eri‌al, n‌egl‌ect this ‌ema‌i‌l, my RAT trojan, video you jerked, I used keylogger, your disk dump, malware intercepts, installed a malware, remo‌v‌e yo‌ur vi‌deo‌ fo‌o‌ta‌ge, RAT onto your computer, greasy stimulating actions, excentric preferrables, porn web-page, to your Tax Department, network will be DDoS, friends, WannaCry, building a protection policy, in Tax Departament, Yours service going, we pass CloudFlare, hear fake-experts, backuped phone, -1663, of your joys, digits your phone, (porno), BIG pervert, both files and scale, naughty video clips, Soy un hacker, I installed spyware, n website with teen, malware on the porn website, very own recorded material""Marlware, international hacker group, No‌ p‌erso‌n has co‌mp‌ensat‌ed, very o‌wn vid‌eo‌ cli‌p, software on the adult, porno sitio, one of your pass word, specific pixel, sexual content web portal, a malware on the adult, a malware on the, double-screen, is a reasonable price tag for our little secret, you have a good taste lmao, I placed a malware on the adult vids, your browser began operating as a RDP, had been abusing yourself in front of computer display, you are one of those people that downloaded the malicious, I made a split-screen video, While you were watching the video, your web browser acted as, malware on the porn website and guess what, an unique pixel, you jerked off while watching an online video, When you pressed the play button the virus begins saving all the things thru, ja.scr, My malicious soft started your front cam, and also send the video link to all of yourfriends, I infected your gadget with a malware and now, AnywaysI downloaded all contacts, my program quickly got into your system, To a time where you jerk off watching","For the present moment I have at my disposal all, When you arouse sexually watching porno, In such a way all needed compromising material and contact, All information to yours SNSs user accounts, You watched sexual content portal and toss","Hello! WannaCry is back! All your, in front of the screen browsing adult stuff, As you flog the dummy watching, U are going to be offered 5 days after checking this notice, RAT 68006, the damnific malware, pastime and entertainment there, not my single victim, beat the dummy, buff the muffin, choke a chicken, front camera capturing video, with you frigging, with you chaturbating, with you masturbating, web digicam, U are going to have 5 dayss, i utilize just hacked wi, pressured this trojan to, glue a pair of videos, glue two videos, the RAT, if you want me to destroy this whole video, downloaded all contacts from your computer, your list of contacts or relatives will, I made a video that shows how you masturbate, hacked you through a virus in an ad on a porn website, my illiteracy, nоt mind on my illiterаcy, I рilfered all рrivy bаckground, videоtaре with yоur masturbаtion, my delеtеrious soft, cаmеra shооt the videоtaрe, you sеlf-аbusing, Differently I will send the video to all your colleagues and friends, your front-camera made the videotape with you self-abusing, RAT 98390 malware, the minute you went to one adult page, information to contact info I discovered on your devices and remember there is a lot of these, not including Double VPN As a result, I forced my malware to hook up to a mic, web camera and catch the video from it, poisoned a number of adult sites, video clip to fit on a single tv screen, This letter has invisible monitoring program inside and i will be aware of when you are going to check, doing ur stuff and a clip u jerked to, the investigation will last, I uploaded our malicious program on your device, furthermore malware saved exactly the video you chose, its a record with your wanking, friends will see u taking proper care of yourself, Your system is controlled by the malicious program, If you were more careful while playing with yourself, that whacking off to adult web-sites is, adult website which was poisoned with my malware, nor i think that jerking off to porn sites is really a gross thing, so I dgf lmao, proof just reply to this email with, if you want me to destroy all this compromising evidence, will send your video to 5 contacts, amount in Usd that can cope with this scenario, You are welcome to contact your local authorities, If you want proof, reply with, i pride myself in being apart of an internet group, so i dgf, I take good care of my being anonymous, information related to the RAT virus, been able get in to all ur units, to all of your contacts including, search engines like goo, case sensitive, so copy,, and at this moment I, It is a non-nego, don't waste my perso, thi s mes, back while visiting, showe ring, what should you do ?, porno webpage, this embarrassing situation, navigated to the page, bare-assed, on well-known websites and publications, I got an order from someone to kill you and your family, immediately kill your family, is an explosive device, My mercenary is, explosive device detonates, triggered your webcam, piquant websites, my exploit downloaded, replenish btc wallet, i‌nstanta‌neo‌usly ‌erase, actua‌l r‌eco‌rded ma‌t‌eri‌al, n‌egl‌ect this ‌ema‌i‌l, my RAT trojan, video you jerked, I used keylogger, your disk dump, malware intercepts, installed a malware, remo‌v‌e yo‌ur vi‌deo‌ fo‌o‌ta‌ge, RAT onto your computer, greasy stimulating actions, excentric preferrables, porn web-page, to your Tax Department, network will be DDoS, friends, WannaCry, building a protection policy, in Tax Departament, Yours service going, we pass CloudFlare, hear fake-experts, backuped phone, -1663, of your joys, digits your phone, (porno), BIG pervert, both files and scale, naughty video clips, Soy un hacker, I installed spyware, n website with teen, malware on the porn website, very own recorded material, ιs yοur ραssρhrαse, after seeing the video of you jerking off, τhιηκ οf ιτ αs α dοηατιοη, split-screen video, 𝐄𝐧𝐭𝐢𝐫𝐞 𝐯𝐢𝐝𝐞𝐨 𝐜𝐥𝐢𝐩 𝐮𝐧𝐝𝐞𝐫𝐭𝐚𝐤𝐢𝐧𝐠 𝐫𝐚𝐮𝐧𝐜𝐡𝐲 𝐦𝐚𝐭𝐭𝐞𝐫𝐬, 𝐚𝐜𝐭𝐮𝐚𝐥𝐥𝐲 𝐞𝐧𝐭𝐞𝐫𝐞𝐝 𝐭𝐡𝐚𝐭 𝐩𝐨𝐫𝐧𝐨 𝐢𝐧𝐭𝐞𝐫𝐧𝐞𝐭 𝐬𝐢𝐭𝐞, 𝐇𝐨𝐰 𝐰𝐢𝐥𝐥 𝐲𝐨𝐮 𝐩𝐮𝐭 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫 𝐭𝐡𝐞 𝐩𝐚𝐲𝐦𝐞𝐧𝐭"
submitted by EugeneBYMCMB to Scams [link] [comments]

FATF recommends considering privacy coin and unhosted wallet as red flag.

https://www.fatf-gafi.org/publications/fatfrecommendations/documents/virtual-assets-red-flag-indicators.html
Red Flag Indicators Related to Anonymity
  1. This set of indicators draws from the inherent characteristics and vulnerabilities associated with the underlying technology of VAs. The various technological features below increase anonymity and add hurdles to the detection of criminal activity by LEAs. These factors make VAs attractive to criminals looking to disguise or store their funds. Nevertheless, the mere presence of these features in an activity does not automatically suggest an illicit transaction. For example, the use of a hardware or paper wallet may be legitimate as a way to secure VAs against thefts. Again, the presence of these indicators should be considered in the context of other characteristics about the customer and relationship, or a logical business explanation.
 Transactions by a customer involving more than one type of VA, despite additional transaction fees, and especially those VAs that provide higher anonymity, such as anonymity-enhanced cryptocurrency (AEC) or privacy coins.
 Moving a VA that operates on a public, transparent blockchain, such as Bitcoin, to a centralised exchange and then immediately trading it for an AEC or privacy coin.
 Customers that operate as an unregistered/unlicensed VASP on peer-to-peer (P2P) exchange websites, particularly when there are concerns that the customers handle huge amount of VA transfers on its customer’s behalf, and charge higher fees to its customer than transmission services offered by other exchanges. Use of bank accounts to facilitate these P2P transactions.
 Abnormal transactional activity (level and volume) of VAs cashed out at exchanges from P2P platform-associated wallets with no logical business explanation.
 VAs transferred to or from wallets that show previous patterns of activity associated with the use of VASPs that operate mixing or tumbling services or P2P platforms.
 Transactions making use of mixing and tumbling services, suggesting an intent to obscure the flow of illicit funds between known wallet addresses and darknet marketplaces.
 Funds deposited or withdrawn from a VA address or wallet with direct and indirect exposure links to known suspicious sources, including darknet marketplaces, mixing/tumbling services, questionable gambling sites, illegal activities (e.g. ransomware) and/or theft reports.
 The use of decentralised/unhosted, hardware or paper wallets to transport VAs across borders.
 Users entering the VASP platform having registered their Internet domain names through proxies or using domain name registrars (DNS) that suppress or redact the owners of the domain names.
 Users entering the VASP platform using an IP address associated with a darknet or other similar software that allows anonymous communication, including encrypted emails and VPNs. Transactions between partners using various anonymous encrypted communication means (e.g. forums, chats, mobile applications, online games, etc.) instead of a VASP.
 A large number of seemingly unrelated VA wallets controlled from the same IP-address (or MAC-address), which may involve the use of shell wallets registered to different users to conceal their relation to each other.
 Use of VAs whose design is not adequately documented, or that are linked to possible fraud or other tools aimed at implementing fraudulent schemes, such as Ponzi schemes.
 Receiving funds from or sending funds to VASPs whose CDD or know-your- customer (KYC) processes are demonstrably weak or non-existent.
 Using VA ATMs/kiosks – o despite the higher transaction fees and including those commonly used by mules or scam victims; or o in high-risk locations where increased criminal activities occur. A single use of an ATM/kiosk is not enough in and of itself to constitute a red flag, but would if it was coupled with the machine being in a high-risk area, or was used for repeated small transactions (or other additional factors).
submitted by subarun7 to Monero [link] [comments]

Instacoin UK - Last Chance (up to end of Oct) to get a free £10 worth of Bitcoin (same day) for £100 Bitcoin purchase

Instacoin UK , a popular cryptocurrency exchange, are updating their referral scheme from 1st November 2020. The referral amount will be adjusted to a £5 bonus for any purchase over £50. Currently it is a £10 bonus for any purchase of £100 or over.
Instacoin UK is a website which allows you to purchase Bitcoin with your Visa / MasterCard or via a bank transfer. They have been around a while used by lots of beermoneyuk users already.
Instacoin UK are going to honor the £10 bonus scheme for any new customer signing that sign up and purchase £100 of Bitcoin or over until the end of the month. You get the free £10 worth of Bitcoin immediately after purchase! The whole process (including receiving your £100 back in your bank account) should take less than an hour.
The Process
Sign up via my referral link.
Referral link: https://instacoin.uk/ref?code=54C9787
£10 bonus
Non-refferal link: https://instacoin.uk/
No bonus

Steps:

  1. Sign up with the referral link above
  2. Verify your account (driver's licence, passport or gov issued I.D)
  3. Click buy at the top of the dashboard and select BTC, with a purchase amount of £100
  4. Enter the Bitcoin wallet address you want the money paying to.
  5. Pay using by Visa / MasterCard or bank transfer.
  6. You're done! The £100 of BTC will reach your bitcoin wallet usually within 15 minutes or so.
  7. The £10 bonus you receive in the form of a code in your email after the £100 of BTC is sent. Click the email link, enter the code, provide your wallet address again and you'll receive your £10 of BTC for free :)

Once the £110 worth of Bitcoin is in your wallet you are free to do whatever you want with it. I sent mine to my BlockFi account for savings.
You can also get an additional £10 reward for every person you refer up to the end of the month, after this it is £5! Any referral bonuses are given to you at the end of the month).
Let me know if you have any questions.

UPDATE 24.10.20: There is some confusion about the referral amount as being £5 or £10. InstaCoin UK have confirmed That is you sign up with an exsisting customers link (like mine), and complete a £100 purchase before the end of October, you will receive £10 in free Bitcoin credited to your account.
My Referral link for the free £10: https://instacoin.uk/ref?code=54C9787
UPDATE 28.10.20:
Here is a copy of the email I have just received from InstaCoin. I can verify that the mempool is super busy at the moment:

We have received a number of support tickets regarding the delay in BTC confirmations. Rather than reply to everyone individually we would like to address this issue as a whole and give a quick explanation to all our users about why this is occuring:
Sometimes, for a variety of reasons, there will be a spike in the number of BTC transactions that are waiting to be confirmed. That will cause a delay in confirmation times, and increases the price of fees required for a transaction to be included in a block. You can see the current number of unconfirmed transactions here: https://www.blockchain.com/charts/mempool-count?timespan=1week.
Transaction fees directly influence how long you will have to wait for transactions to confirm. At InstaCoin, we broadcast all our transactions with a Regular fee. This fee is covered on our side. It is usually around 0.0001 BTC or £1. Up until the last few days, there has never been an issue with confirmation times.
With a high priority fee, it is likely that transactions will get confirmed quicker by miners. Currently, we are looking at a 0.001BTC/£10 fee to push through transactions at a normal rate. As you can imagine, this is not an expense InstaCoin can cover and we also believe our users would not want to pay this fee either.
We believe the best solution is the one we are currently employing. The delays are frustrating and we feel that frustration too but the current mempool (waiting room) is unprecedented and we will return back to normal ways soon.
The important takeaway we want our users to have from this is that, from our side, the BTC is sent out instantly to your wallet and usually this would get confirmed in a short space of time. At this moment things are taking a bit longer, but the end-point is that you will 100% receive this BTC eventually.

Also remember to complete your sign up and deposist before the end of the month to be certain of getting the free £10 in Bitcoin.
My sign up link again is: https://instacoin.uk/ref?code=54C9787
Sign up code: 54C9787
If you have any questions just let me know.
submitted by TidyCompetition to beermoneyuk [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Axion (HEX2T) launch vote update! 🚀

Voting has taken place, and the result was to briefly wait until the present audit was complete, for obvious reasons. Axion is currently undergoing an audit by CertiK, one of the best audit companies in the world. Audits by Hacken have already been completed, this one is just to add more fail-safe. Launch is imminent upon completion of this audit. Fill your bag$ now.
join the discord https://discord.gg/fSJyvWq
axion.network
What is Axion? AXION is the answer to our global financial markets that are on the brink of disaster. The original solution to this impending collapse was Bitcoin, a decentralized peer-to-peer currency. However, since its inception, certain aspects of Bitcoin, such as lack of speed and high fees, have shifted Bitcoin into more of a store-of-value than a currency. Axion is the currency to address that.
With a high-interest time-locked savings account, Participants in the Axion Network are rewarded daily. Put some Axion in a time-locked savings, and enjoy life, living off the interest!
✅Fixed Inflation ✅Fast ✅Passive Income ✅Rewards people, not the corporate elite ✅Inexpensive ✅Global & Scalable
Anyone holding Hex2T tokens will receive AXION at a rate of 1:1. Hex holders will also receive AXION 1:1, limited at 10M AXION tokens. Freeclaim amounts start at 100% of total available freeclaim for week one and decreases 2% weekly.
Week One Freeclaim: 100% – Week Fifty Freeclaim: 2%
Hex holders will also be auto-locked for a year. More details can be found in the whitepaper. If Hex holders do not claim their AXION tokens, they will become available for purchase in the Daily Auction.
submitted by donnychakras to CryptoMoonShots [link] [comments]

Some newbie questions about Trezor device and bitcoin wallets

Greetings
I have never owned bitcoin before, but I studied how it works, so I think I have some understanding. I also studied options and it seems hardware wallet is the way to go for safety reasons.
So, question number One, am I correct that:
Unlike a bank account, where you keep one account usually, with bitcoin you keep generating new addresses, so if you own 1 bitcoin, you don't store it on one address, rather, you own many addresses, each containing part of your bitcoin, and when you spend, you just expend some of the addresses and throw them away, and when you receive, you generate new addresses for every transaction, so you accumulate these addresses that each are like a banknote of sorts, each having their own nominal value, and then you spend those banknotes and never use those addresses again. Right?
Question number Two, am I correct that:
All the addresses are generated from a certain big number, "master key" of sorts, which is private to me, which can be written in a form of "seed" which is what the device will give me when initialized, which is what I can use to recover my master key if I lose or break the device?
Question number Three, who does the address generation for bitcoin wallets for new incoming transactions? I assume it's the online wallet Trezor uses, right? So the device does not store any addresses of bitcoin wallets, right? It only stores my master key?
Assuming all are correct, can you please explain, in simpliest terms, how do I restore these addresses themselves, should Trezor online wallet be unavailable? I mean, it's hardly a possibility, but assume I have my seed, or even my Trezor device, but Trezor online wallet is unavailable. Assume I made hundreds of bitcoin transactions and my bitcoin is stored in hundreds of small pieces on different addresses. How do I recover all those? How do I know when to stop, when I have recovered them all? Assuming I don't know the amount I totally own by heart, so I cannot know when to stop (When I found all my bitcoin)?
I mean, it's unlimited, right, the amount of bitcoin addresses that can be generated from my "master key" of my Trezor? So how do I know which of them contain bitcoin? Like, say I have used 200 of them and 100 of them still contain bitcoins, and I lose the device, and have to restore from seed, how does it know that it has to generate only those 200, like, how does it know it doesnt have to generate more addresses, maybe those other addresses contain some bitcoin on them too?
Or does it, generate them always in the same order, so if it sees only blank unused addresses, it assumes it's time to stop? Like, if address 0-200 are all used but 200-300 are all unused still, it assumes it's fine to stop checking?
Also, on an unrelated note, how can I be sure I made no mistake in recording the seed? Can I just wipe the device and restore it from seed right after initializing it and receiving a small bitcoin transaction, to test it and be sure that I can recover my bitcoin in case I lose it? Is the device unlimited in terms of how many times it can be wiped and restored?
Thanks in advance!
submitted by RPMahoutsukai to TREZOR [link] [comments]

Technical: Confidential Transactions and Their Implementation Tradeoffs

As requested by estradata here: https://old.reddit.com/Bitcoin/comments/iylou9/what_are_some_of_the_latest_innovations_in_the/g6heez1/
It is a general issue that crops up at the extremes of cryptography, with quantum breaks being just one of the extremes of (classical) cryptography.

Computational vs Information-Theoretic

The dichotomy is between computationally infeasible vs informationally-theoretic infeasible. Basically:
Quantum breaks represent a possible reduction in computational infeasibility of certain things, but not information-theoretic infeasibility.
For example, suppose you want to know what 256-bit preimages map to 256-bit hashes. In theory, you just need to build a table with 2256 entries and start from 0x0000000000000000000000000000000000000000000000000000000000000000 and so on. This is computationally infeasible, but not information-theoretic infeasible.
However, suppose you want to know what preimages, of any size, map to 256-bit hashes. Since the preimages can be of any size, after finishing with 256-bit preimages, you have to proceed to 257-bit preimages. And so on. And there is no size limit, so you will literally never finish. Even if you lived forever, you would not complete it. This is information-theoretic infeasible.

Commitments

How does this relate to confidential transactions? Basically, every confidential transaction simply hides the value behind a homomorphic commitment. What is a homomorphic commitment? Okay, let's start with commitments. A commitment is something which lets you hide something, and later reveal what you hid. Until you reveal it, even if somebody has access to the commitment, they cannot reverse it to find out what you hid. This is called the "hiding property" of commitments. However, when you do reveal it (or "open the commitment"), then you cannot replace what you hid with some other thing. This is called the "binding property" of commitments.
For example, a hash of a preimage is a commitment. Suppose I want to commit to something. For example, I want to show that I can predict the future using the energy of a spare galaxy I have in my pocket. I can hide that something by hashing a description of the future. Then I can give the hash to you. You still cannot learn the future, because it's just a hash, and you can't reverse the hash ("hiding"). But suppose the future event occurs. I can reveal that I did, in fact, know the future. So I give you the description, and you hash it and compare it to the hash I gave earlier. Because of preimage resistance, I cannot retroactively change what I hid in the hash, so what I gave must have been known to me at the time that I gave you the commitment i..e. hash ("binding").

Homomorphic Commitments

A homomorphic commitment simply means that if I can do certain operations on preimages of the commitment scheme, there are certain operations on the commitments that would create similar ("homo") changes ("morphic") to the commitments. For example, suppose I have a magical function h() which is a homomorphic commitment scheme. It can hide very large (near 256-bit) numbers. Then if h() is homomorphic, there may be certain operations on numbers behind the h() that have homomorphisms after the h(). For example, I might have an operation <+> that is homomorphic in h() on +, or in other words, if I have two large numbers a and b, then h(a + b) = h(a) <+> h(b). + and <+> are different operations, but they are homomorphic to each other.
For example, elliptic curve scalars and points have homomorphic operations. Scalars (private keys) are "just" very large near-256-bit numbers, while points are a scalar times a standard generator point G. Elliptic curve operations exist where there is a <+> between points that is homomorphic on standard + on scalars, and a <*> between a scalar and a point that is homomorphic on standard * multiplication on scalars.
For example, suppose I have two large scalars a and b. I can use elliptic curve points as a commitment scheme: I can take a <*> G to generate a point A. It is hiding since nobody can learn what a is unless I reveal it (a and A can be used in standard ECDSA private-public key cryptography, with the scalar a as the private key and the point A as the public key, and the a cannot be derived even if somebody else knows A). Thus, it is hiding. At the same time, for a particular point A and standard generator point G, there is only one possible scalar a which when "multiplied" with G yields A. So scalars and elliptic curve points are a commitment scheme, with both hiding and binding properties.
Now, as mentioned there is a <+> operation on points that is homomorphic to the + operation on corresponding scalars. For example, suppose there are two scalars a and b. I can compute (a + b) <*> G to generate a particular point. But even if I don't know scalars a and b, but I do know points A = a <*> G and B = b <*> G, then I can use A <+> B to derive (a + b) <*> G (or equivalently, (a <*> G) <+> (b <*> G) == (a + b) <*> G). This makes points a homomorphic commitment scheme on scalars.

Confidential Transactions: A Sketch

This is useful since we can easily use the near-256-bit scalars in SECP256K1 elliptic curves to easily represent values in a monetary system, and hide those values by using a homomorphic commitment scheme. We can use the hiding property to prevent people from learning the values of the money we are sending and receiving.
Now, in a proper cryptocurrency, a normal, non-coinbase transaction does not create or destroy coins: the values of the input coins are equal to the value of the output coins. We can use a homomorphic commitment scheme. Suppose I have a transaction that consumes an input value a and creates two output values b and c. That is, a = b + c, i.e. the sum of all inputs a equals the sum of all outputs b and c. But remember, with a homomorphic commitment scheme like elliptic curve points, there exists a <+> operation on points that is homomorphic to the ordinary school-arithmetic + addition on large numbers. So, confidential transactions can use points a <*> G as input, and points b <*> G and c <*> G as output, and we can easily prove that a <*> G = (b <*> G) <+> (c <*> G) if a = b + c, without revealing a, b, or c to anyone.

Pedersen Commitments

Actually, we cannot just use a <*> G as a commitment scheme in practice. Remember, Bitcoin has a cap on the number of satoshis ever to be created, and it's less than 253 satoshis, which is fairly trivial. I can easily compute all values of a <*> G for all values of a from 0 to 253 and know which a <*> G corresponds to which actual amount a. So in confidential transactions, we cannot naively use a <*> G commitments, we need Pedersen commitments.
If you know what a "salt" is, then Pedersen commitments are fairly obvious. A "salt" is something you add to e.g. a password so that the hash of the password is much harder to attack. Humans are idiots and when asked to generate passwords, will output a password that takes less than 230 possibilities, which is fairly easy to grind. So what you do is that you "salt" a password by prepending a random string to it. You then hash the random string + password, and store the random string --- the salt --- together with the hash in your database. Then when somebody logs in, you take the password, prepend the salt, hash, and check if the hash matches with the in-database hash, and you let them log in. Now, with a hash, even if somebody copies your password database, the can't get the password. They're hashed. But with a salt, even techniques like rainbow tables make a hacker's life even harder. They can't hash a possible password and check every hash in your db for something that matches. Instead, if they get a possible password, they have to prepend each salt, hash, then compare. That greatly increases the computational needs of a hacker, which is why salts are good.
What a Pedersen commitment is, is a point a <*> H, where a is the actual value you commit to, plus <+> another point r <*> G. H here is a second standard generator point, different from G. The r is the salt in the Pedersen commitment. It makes it so that even if you show (a <*> H) <+> (r <*> G) to somebody, they can't grind all possible values of a and try to match it with your point --- they also have to grind r (just as with the password-salt example above). And r is much larger, it can be a true near-256-bit number that is the range of scalars in SECP256K1, whereas a is constrained to "reasonable" numbers of satoshi, which cannot exceed 21 million Bitcoins.
Now, in order to validate a transaction with input a and outputs b and c, you only have to prove a = b + c. Suppose we are hiding those amounts using Pedersen commitments. You have an input of amount a, and you know a and r. The blockchain has an amount (a <*> H) <+> (r <*> G). In order to create the two outputs b and c, you just have to create two new r scalars such that r = r[0] + r[1]. This is trivial, you just select a new random r[0] and then compute r[1] = r - r[0], it's just basic algebra.
Then you create a transaction consuming the input (a <*> H) <+> (r <*> G) and outputs (b <*> H) <+> (r[0] <*> G) and (c <*> H) <+> (r[1] <*> G). You know that a = b + c, and r = r[0] + r[1], while fullnodes around the world, who don't know any of the amounts or scalars involved, can just take the points (a <*> H) <+> (r <*> G) and see if it equals (b <*> H) <+> (r[0] <*> G) <+> (c <*> H) <+> (r[1] <*> G). That is all that fullnodes have to validate, they just need to perform <+> operations on points and comparison on points, and from there they validate transactions, all without knowing the actual values involved.

Computational Binding, Information-Theoretic Hiding

Like all commitments, Pedersen Commitments are binding and hiding.
However, there are really two kinds of commitments:
What does this mean? It's just a measure of how "impossible" binding vs hiding is. Pedersen commitments are computationally binding, meaning that in theory, a user of this commitment with arbitrary time and space and energy can, in theory, replace the amount with something else. However, it is information-theoretic hiding, meaning an attacker with arbitrary time and space and energy cannot figure out exactly what got hidden behind the commitment.
But why?
Now, we have been using a and a <*> G as private keys and public keys in ECDSA and Schnorr. There is an operation <*> on a scalar and a point that generates another point, but we cannot "revrese" this operation. For example, even if I know A, and know that A = a <*> G, but do not know a, I cannot derive a --- there is no operation between A G that lets me know a.
Actually there is: I "just" need to have so much time, space, and energy that I just start counting a from 0 to 2256 and find which a results in A = a <*> G. This is a computational limit: I don't have a spare universe in my back pocket I can use to do all those computations.
Now, replace a with h and A with H. Remember that Pedersen commitments use a "second" standard generator point. The generator points G and H are "not really special" --- they are just random points on the curve that we selected and standardized. There is no operation H G such that I can learn h where H = h <*> G, though if I happen to have a spare universe in my back pocket I can "just" brute force it.
Suppose I do have a spare universe in my back pocket, and learn h = H G such that H = h <*> G. What can I do in Pedersen commitments?
Well, I have an amount a that is committed to by (a <*> H) <+> (r <*> G). But I happen to know h! Suppose I want to double my money a without involving Elon Musk. Then:
That is what we mean by computationally binding: if I can compute h such that H = h <*> G, then I can find another number which opens the same commitment. And of course I'd make sure that number is much larger than what I originally had in that address!
Now, the reason why it is "only" computationally binding is that it is information-theoretically hiding. Suppose somebody knows h, but has no money in the cryptocurrency. All they see are points. They can try to find what the original amounts are, but because any amount can be mapped to "the same" point with knowledge of h (e.g. in the above, a and 2 * a got mapped to the same point by "just" replacing the salt r with r - a * h; this can be done for 3 * a, 4 * a etc.), they cannot learn historical amounts --- the a in historical amounts could be anything.
The drawback, though, is that --- as seen above --- arbitrary inflation is now introduced once somebody knows h. They can multiply their money by any arbitrary factor with knowledge of h.
It is impossible to have both perfect hiding (i.e. historical amounts remain hidden even after a computational break) and perfect binding (i.e. you can't later open the commitment to a different, much larger, amount).
Pedersen commitments just happen to have perfect hiding, but only computationally-infeasible binding. This means they allow hiding historical values, but in case of anything that allows better computational power --- including but not limited to quantum breaks --- they allow arbitrary inflation.

Changing The Tradeoffs with ElGamal Commitments

An ElGamal commitment is just a Pedersen commitment, but with the point r <*> G also stored in a separate section of the transaction.
This commits the r, and fixes it to a specific value. This prevents me from opening my (a <*> H) <+> (r <*> G) as ((2 * a) <*> H) <+> ((r - a * h) <*> G), because the (r - a * h) would not match the r <*> G sitting in a separate section of the transaction. This forces me to be bound to that specific value, and no amount of computation power will let me escape --- it is information-theoretically binding i.e. perfectly binding.
But that is now computationally hiding. An evil surveillor with arbitrary time and space can focus on the r <*> G sitting in a separate section of the transaction, and grind r from 0 to 2256 to determine what r matches that point. Then from there, they can negate r to get (-r) <*> G and add it to the (a <*> H) <+> (r <*> G) to get a <*> H, and then grind that to determine the value a. With massive increases in computational ability --- including but not limited to quantum breaks --- an evil surveillor can see all the historical amounts of confidential transactions.

Conclusion

This is the source of the tradeoff: either you design confidential transactions so in case of a quantum break, historical transactions continue to hide their amounts, but inflation of the money is now unavoidable, OR you make the money supply sacrosanct, but you potentially sacrifice amount hiding in case of some break, including but not limited to quantum breaks.
submitted by almkglor to Bitcoin [link] [comments]

Mechanic Questline Suggestion - Hacker

Hello PMC's, I am sharing a questline I thought of. It is a one for the future, but I wanted to see what you guys think. Having a AI that follows you seems like an interesting concept.
Enjoy!
Hacker Questline
Mechanic quest line suggestion
Hacker Pt. 1- Introduction
“Yesterday I got a message from my old friend, he is trapped in Tarkov. I need you to help him. He says he is safe for now, but his food rations are getting low. I need you to bring him some canned food, water, coffee. He also requested some cola and energy drinks and promised extra reward for these. He will be waiting for you in his apartment. Top floor, streets. Here is the address, make sure you are not followed. Hurry, I don’t want him to starve..”
Objectives
Doing this will give you extra reputation, and together with other optional objectives further down the questline. You can receive extra rewards or have him hideout to increase bitcoin farm efficiency.
Hacker Pt. 2 - Computing power
“Thanks for helping my dude. He is well and your package gives him more of the precious time he needs. However, bad luck never runs out in Tarkov, there was a water leak and part of his computer setup got toasted. Here is the list of what he needs, bring it to him. One more thing, I noticed a higher traffic of scavs in the area, they might be up to something. If you can, make sure he finishes the repairs without issues.”
Objectives
Hacker Pt. 3 - Moving
“Urgent, My friend's location got busted, it wasn’t you. I have a feeling Skier has something to do with it. He has an escape route, but the area is quite hot and he is afraid. The apartment? Taken by scavs. I need you to go there, kill them and salvage what is left of his equipment. After that RV with my man and get him to me. Alive.”
Objectives
Hacker Pt. 4 - Reunion
“Bring us some Vodka...with Pineapple juice and Milk. We want to celebrate this reunion.”
Objectives*
Hacker Pt. 5 - Doing business
“Hell of a party...thanks. Now it is time to do the job. Take my man to labs, here is a keycard for you. I need you to escort him to the office, parking gate control room, security control room. There is some data we need to retrieve. If you can get him to the Red Keycard room, I will kiss your cheeks.”
Objectives
Hacker Pt. 6 - Homecoming
“All done. He has the ticket. Go finish what you started. Get him out.”
Objectives
submitted by Dzusitomato to EscapefromTarkov [link] [comments]

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