/biz/ - Business & Finance

"the way satoshi intended"
Get rekt already altcoiners

>>13843027
What a fucking retard

>>13843027
>It may be many years
yeah the universe has not been born as long ago as much it takes to mine a single address tho.

>>13843027
>all old addresses eventually become mine-able and can be recovered.
good luck finding a SHA256d collision
bsv bagholders are braindead

>>13843027
Did CSW actually say this?

>>13843075
sha256d just halves your asic hashrate. it's not really a security feature the way you think it is.

>>13843075

>>13843104
Yes. He's a massive retard.

>>13843179
i found that craig has an astonishing lack of understanding of bitcoin even tho he must have studied it for 5-7 years now.

>>13843223

no, he is just making up bullshit to sucker people in, he is fully aware of how ass retarded his ideas are.

>>13843027
That is so god damn retarded. If you forget to move your money you lose it? What a gay faggot.

>>13843027
There is actually enough in these few paragraphs to ensure, anyone retarded enough to still consider BSV a remotely serious operation should refrain from further doing so, immediately

>>13843027
he literally wants to steal peoples bitcoins. next thing you know he will be partnering with the federal reserve to implement his "permissioned" system so you have to ask permission from the government to spend any money.

>>13843027

Factually impossible to implement without violating actual coding fundamentals and cryptographic mission statements.

>>13843223
Yeah no kidding. What is: negative probability

>>13843282
the dumbass probably thinks he can use it to get muh satoshi keys

>>13843132
sha256d prevents a couple of minor weakness: https://bitcointalk.org/index.php?topic=928202.10

it's not just to break asic hashrate, fucking braindead, otherwise we would have 1000 sha256 rounds, not 2.
No one was even imagining ASIC miners in 2009.
Anyway:
good luck finding even a single SHA256 collision

BSV BAGHOLDERS ARE BRAINDEAD

>>13843027
>minable old addresses

Such a thing doesn't and cannot exist. The fuck? Do people actually believe shit like this? If you've lost your private key it's over, permenantly and forever. Those coins will never be touched again for all eternity.

>>13843027

FUCKING KILL YOURSELF!!!!!!

>>13843314
>sha256d prevents a couple of minor weakness
theoretical weaknesses yet to be discovered yes.

>>13843314
>BSV BAGHOLDERS ARE BRAINDEAD
that or they just really bad at gambling and now trying to shill their way out of financial ruin.

>>13843027
But how would you know it was "lost"?

What if someone was just hoddling for life, or their family / estate after death.

>purposefully store cash away to save value
>keys aren't actually lost, you've just chosen not to be an impulsive fuckwit and waste your money for years
>HURP DURP NOPE THATS LOST HIDDEN TREASURE MEANT TO BE MINED BY THE PUBLIC.

Shit like this really makes me wish crypto options were a thing. Some of you shitcoin peddlers are ripe for getting cleaned out.

>Get pulled over.
>Your name sir?
>David Anon.
>Alright David can I see some form of ID?
>I have made several vague blog posts over the years that prove I am David Anon. Google them.
>Sir I just need to see your drivers license, that is all.
>How dare you doubt I'm David Anon! I'll sue you!
>Why are you being difficult sir just show me your license.
>Speeds off while screaming.

>>13843027
I'm for baking into the protocol that addresses that have not moved for 50 years or so can be spent by anyone as long as it's to a special "pool" destination. This pool can then be taken from as part of the block reward, with a max of 0.001% of the current pool, rounded up. This would make mining much more profitable in the future as abandoned addresses becomes minable once again and it would also not allow one single miner to claim the whole "treasure" at once.

>>13844375
Well that’s a reason we have a thing called law and order which Wright stresses, you’d have to assume if it’s been 100 years now with no movement than the money is allowed fo be claimed.

>>13844427

>lock your bitcoin private key away until retirement and send btc to the address every month
>50 years later go dig out your private keys to buy a space lambo
>gook miner steals it

>>13844493
i could assume you were dead before i stabved you then its not murder right?

>>13843314
https://lbc.cryptoguru.org/dio/

Large Bitcoin Collider has found collisions, mostly empty addresses that were previously full or ones that only have small amounts but it happens

>>13844427
What you are talking about is pure socialism and has nothing to do in bitcoin. Bitcoin i a capitalist system. Get a grip. Craig is right again as always

>>13843027
>Put coins away in cold storage for retirement
>get liquidated

>>13844575
you are retarded if you think that is socialism or that adresses will be mineable in a billion years.

>>13843104
yeah, it's on his blog

>>13844494
if it's baked into the protocol you wouldn't do that, now would you?

>>13844575
it's an incentive for the miners to keep innovating and compete, especially right before a known address is about to expire so they are more likely to be able to grab the first couple of promilles of the then much higher reward pool. doesn't get much more capitalist than that. you are misunderstanding if you think i'm suggesting some kind of socialism system. craig is also talking about how sats should never really exit circulation, all i'm saying is that it is better for the system to distribute these lost sats as part of the miner reward instead of one guy getting lucky and getting 55k BSV from a single 110 year old address, which at that point could buy the 4 richest countries in the world as far as we know.

>>13844547
Yeah then its just premeditated desecration of a human corpse and involuntary manslaughter, but those two charges together can end up netting you at least ten years anyway.

Fake and gay

OP kys

>>13844743
you are retarded, Im not holding BSV if some miner can dig into my savings. Not now, not when I wake up from cryostasis, not ever.

>>13844851
we have a law against "unauthorized use of an information system" that can land you 5 years easily basically you access a functionality unintended for you either due to software error or human negligence you can go to jail longer than a murderer fucking funny.
if bitcoin did not have an mit livense you could be jailed for using it.

>>13844573
yeah but good luck targeting a specific address, that's csw foolish idea

>>13844743
>it is better for the system to distribute
This is your problem right there. Literally the definition of socialism. What is wrong with one guy getting lucky? Anyway, in the great scheme of things it will not be about luck. The bigger the value of the old wallet the more hashpower people will dedicate to compete in breaking it. After the hash power is paid the profit margin probably won't be much higher than with regular mining. Unless you are very lucky of course, which is also totally fine. It is no reason to taint and complicate things that works fine just because you think it would be unfair if a miner dedicate resources to mine an old wallet and get the whole reward himself if he's successful

>>13844886
Well too bad, because that's how it is with ALL crypto currencies. With moors law still going strong we will come to a point where old wallets are hackable. If you didn't already know this you are a tech illiterate

>>13844877
no , it's not. check his blog, you cultist cunt

>>13843027
>decide to hodl this bag of shit for some reason
>check your wallet in a few years to see if you're a millionaire yet only to find your coins have been mined out of it

>>13843027
Stop typing like a fucking faggot

bvadf

> ctrl f + wormhole
> nope

This was in relation to wormhole which would send coins to a burn address where they could never be retrieved from. This would eventually destroy bitcoin because there's an endless amount of ICO's that could exist yet a limit on how many bitcoin could exist.

Now that we have bsv there's no threat of wormhole since the protocol will never allow for it.

>>13843075
Addresses that don't eventually get converted to quantum safe addresses will be reclaimed

>>13844886
always a pleasure reading your posts.

>>13845001
it wouldn't complicate things much at all but it doesn't matter anyway. bitcoin is bitcoin so I doubt something like this would be added. i just think it'll cause a problem when the world's money suddenly double over night in a 100 or 1000 years when somebody finally get lucky and crack that one ancient private key that have 55k BSV. the way things are right now it will make more and more sense to devote mining power towards guessing ancient private keys instead of putting it towards actually mining.

>>13844493
Fucking shitvision tard. What if I stocked away 200 BTC for 100 years, provisioning for my kids or grandkids way down the line. It's ok for Creg to just come take it, and distribute it out?

We don't have any sort of register for BTC addresses, so there's no way of proving whether it's still "active" or not.

You can't just come and take what you don't own, that also goes against one of the main principles of Bitcoin. The owner of the private key owns the coins, NO-ONE else. No 3rd party should be able to have jurisdiction over those funds, unless the owner grants it.

>>13847811
This again, proved Creg is just a fucking bluffing cockknocker. Slipping one's hand into my pocket and stealing my change while telling me it's "how the system works" is EXACTLY what I'd expect a fucking con-man to do.

>>13847761
>55k BSV
before anyone say it, don't get hung up on how i just said that this value would double the supply, i just repeated the same arbitrary number as i mentioned before. replace that with X BSV, you get the point.

>>13847811
better spread that out over 200 addresses since you don't know how easy or not easy it will be in 99 years to guess a private key

>>13847845
>Gee that really sounds like a system I want to use. Rather than worrying about what "might" happen, let's just make that a reality by fucking you up the arse anyway.