statoshi

Joined 11 years ago

Karma
119
Submissions
70
Member since
Jan 27
https://statoshi.info - Realtime Bitcoin Node Stats

Verifying my Blockstack ID is secured with the address 162rUyjL1NiwHhWuta4KPExTamFZaSmMsD

[ my public key: https://keybase.io/lopp; my proof: https://keybase.io/lopp/sigs/XBHbXDPw3Sz_g1P05QNl4SwpVAgDrj69CY-nSdcV0oc ]

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Recent submissions

Comment · 5 years ago
It's still pretty rare, but as the space goes mainstream I expect the frequency of such attacks to increase.
Comment · 5 years ago
> It's bad for the environment

Not any more so than other forms of energy consumption. If anything, Bitcoin incentivizes the use of clean renewable energy. https://niccarter.info/topics/

> bad for crime

Hard to even parse what that means given how much crime is committed via dollars. https://unchained-capital.com/blog/bitcoin-is-not-for-crimin...

> bad for laymen

Meaningless drivel.

> undemocratic (vote with money)

Bitcoin is both undemocratic AND is not a "vote with money" type of system. Governance is unrelated to who holds it. https://www.lopp.net/bitcoin-information/governance.html

> no knobs to adjust monetary/fiscal policy

That's a feature.

> it poses as an alternative to government institutions that serve society with things like roads and health care.

Also a feature. https://www.coincenter.org/a-human-rights-activists-response...

Comment · 5 years ago
Comment · 5 years ago
Anything that can be owned can be stolen.

It's a question of how difficult you make to steal and thus how much riskier you make it for someone to attempt an attack.

Comment · 5 years ago
You sound confused; I'm the author of the article, not the subject.
Comment · 5 years ago
Comment · 5 years ago
Nope, but the value of the educational takeaways from the report are not contingent upon me providing evidence of this specific attack. You are welcome to be skeptical.
Comment · 5 years ago
Our client's privacy is more important than your curiosity; it's as simple as that.
Comment · 5 years ago
Comment · 6 years ago
Comment · 6 years ago
Indeed; the market has clearly chosen to prefer optimizing for low cost of full system validation (running a full node) over lost cost of transacting (cheap block space.)
Comment · 8 years ago
False. You're referring to an adversarial situation where your payment channel counterparty tries to close the channel using an old state that gives them more of the money in the channel than they should own. The duration during which you can then post a breach remedy transaction to deprive them of ALL the channel value is configurable when you update the channel state, but the default is 1 week. Eventually the expectation is that you'll even be able to outsource this operation to third parties to monitor the blockchain on your behalf and post the breach remedy transaction if needed.
Comment · 8 years ago
Nonsense. Multiple teams are developing Lightning Network implementations and anyone who desires to commit capital to operate a Lightning node can do so without asking permission from anyone.
Comment · 8 years ago
Fraud protection is referring to protection against double spending and protection against chargebacks - it's not the same type of consumer protection that folks are used to with credit cards. However, it's worth noting that this type of consumer protection /is/ possible and can be built on top of the system using reputation and escrow services.

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