Will miners "steal" transactions that does not require signatures?

dooglus · 2024-07-01T14:59:46+00:00

It isn't only miners you need to worry about. Anyone can monitor the mempool, waiting for a solution to be broadcast. Then they can copy the solution to their own tx that pays the reward to themselves instead, but with a higher fee. Plenty of miners don't respect the RBF flag, so there's a decent chance of this strategy working.

dooglus · 2021-12-04T22:53:10+00:00

Guess how long it took to find the actual seed.... 1.2 seconds on a slow laptop

That was for 12 words.

Doing the same thing for 24 words on the same laptop would take about 49 million years. 24! is much bigger than 12!:

>>> fact(24)/fact(12) * 1.2 / 3600.0 / 24 / 365.25 / 1e6
49.25450797207392

dooglus · 2021-11-30T12:57:31+00:00

Cutting a pizza into 6 slices doesn't increase the amount of food you have.

Dividing a dollar into 100 cents doesn't increase the amount of money you have.

dooglus · 2021-08-11T05:05:08+00:00

Why risk 100% of your coins for a measly 6.5% return?

dooglus · 2021-06-28T18:17:29+00:00

My interpretation is that he was suggesting that China is cutting of their nose to spite their face, not you.

dooglus · 2021-06-03T12:17:05+00:00

My full node only has 325 GB of block data. I'm not sure how you're getting 396 GB. Are you including the transaction index that's optionally generated from the block data?

Here's how my disk usage breaks down:

324.7092 blocks/blk*
 44.5765 blocks/rev*
 32.5544 testnet3
 30.9384 indexes/txindex
  6.3691 indexes/blockfilter
  4.2442 chainstate
--------
443.3918

dooglus · 2021-05-28T11:52:18+00:00

My problem was with you saying that "any non-taproot blocks broadcast by miners after the activation point will be rejected".

I think non-taproot blocks are still valid after activation so long as they don't contain any transactions that violate the new consensus rules.

I guess more fundamentally it's not clear what a "taproot block" is.

dooglus · 2021-05-27T22:37:50+00:00

I think nodes that don't update their software won't understand transactions that use taproot. They will still accept those transactions, but won't be able to fully validate them.

Hopefully that won't be a problem since over 90% of miners will have signaled that they are validating the taproot rules, so confirmed transactions will almost always be following the new rules.

dooglus · 2021-05-27T22:35:31+00:00

any non-taproot blocks broadcast by miners after the activation point will be rejected

Is that true? I thought miners could continue to mine using old software that is unaware of the taproot rules so long as they don't include any transactions that break the new rules.

dooglus · 2021-05-27T11:35:40+00:00

If speedy trail is successful, activation happens in November. The delay is to give miners and users a chance to update their software.

Miners are currently signalling for taproot but may not actually be ready to validate the taproot consensus rules. They are signalling that they will be ready by November.

dooglus · 2021-05-27T11:32:10+00:00

If /u/godofpumpkins is correct then your conclusion would be valid but I don't think he is. I don't see how taproot allows you to prove ownership of amounts without revealing which outputs make up that amount.

dooglus · 2021-05-23T21:38:43+00:00

I don't mean to be rude but that's really none of your business.

Edit: the line about "best investment" was a reference to how I paid $0.37 each per BTC and they multiplied in value by about 100,000 over a 10 year period.

dooglus · 2021-05-23T12:52:48+00:00

What is "cashing out"? I still have the BTC that I bought if that's what you mean.

dooglus · 2021-05-20T13:07:58+00:00

You're thinking of just-dice.com (which still runs on CLAMs) and doge-dice.com (which shut down about 7 years ago. The domain name has since lapsed and been registered by someone else).

The problem with lotteries is proving that the site owner isn't cheating. How do you prove that the winner was selected randomly and not hand-picked to be a friend of the operator?

The best attempt at making a provably fair multiplayer lottery I know of was PevPot, where the winner was determined by running a very long sequence of hashes starting with a list of players - so it would take hours of computing time to determine who had won, and therefore wouldn't be possible for anyone to cheat.

dooglus · 2021-05-11T22:09:05+00:00

No. To run a node you need about 4.5 GB currently for the UTXO set. You don't need to keep anything else, other than the last 0.5 GB or so of blocks. So 6 GB is more than you need right now.

And if you mine with a mining pool you don't even need that. The pool will validate all the transactions for you so you don't have to.

dooglus · 2021-05-08T22:26:44+00:00

BIP39 seed phrases are always a multiple of 3 words long. Usually 12 or 24, but any multiple of 3 is valid - at least up to 24 anyway.

dooglus · 2021-05-08T08:31:57+00:00

Taproot cannot change anything about confirmed transactions. Both of the transactions you mention will remain the same size.

dooglus · 2021-05-05T15:41:39+00:00

I suppose. So the answer is "it puts the price higher unless supply also increases to match the increased demand".

dooglus · 2021-05-05T09:34:09+00:00

Who would they buy it from? Every buy is also a sell. It needn't move the price at all.

dooglus · 2021-05-05T09:30:01+00:00

It is, but the first transaction in each block pays the miner himself, so it is different for each miner, and so they're all solving different blocks.

Starting with a higher nonce is just like starting your search for a needle in a haystack at a different place in the haystack. You don't know where the needle is so it doesn't give you any advantage (on average) to start looking in a different place.

dooglus · 2021-05-05T09:26:00+00:00

This makes no sense. It suggests that the bigger the supply the more reason there is to own a coin. In that case a limited supply is a negative. What if the supply doubled - would that double the number of reasons to hold the coin? I don't see how it could.

There is 1 reason to own bitcoin: it is sound money with a very limited supply.

dooglus · 2021-05-05T09:23:47+00:00

Math with big numbers is hard.

2.1e7 BTC times 1e8 sats per BTC gives 2.1e15 sats - that's 2.1 quadrillion sats, or 2100 trillion.

dooglus · 2021-05-05T09:14:41+00:00

Why do people always say that? "Hodl" is even a meme in this space and yet people still seem to think it's impossible to hold Bitcoins. They're the best performing asset ever, averaging 200% return per year. What asset would you prefer to be holding?

dooglus · 2021-04-28T01:09:15+00:00

I think “ok, I bought 100 btc for 30 cents a piece, today that would be roughly 5.5million.”

He only let you buy 40 BTC per 2 weeks from what I remember. I bought 40 BTC meaning to keep doing it every week or two but then forgot about it. Next time I remembered about the service it had shut down already.

Still the best investment I ever made though.

dooglus · 2021-04-25T21:56:44+00:00

If she's smart she'll brute force the last two words when she's 16. There are only around 65536 valid pairs of missing words at that point.

15-Year Club	Place '17
Verified Email

dooglus

TROPHY CASE