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12 sats \ 0 replies \ @Filiprogrammer 13 Jul \ on: Probably Out Here Betting All My Sats Away, But... Elon and Bitcoin? Stacker_Sports
Bitcoin does not use encryption. It uses digital signatures.
L402 already exists. But of course Cloudflare has to invent its own Fiat version.
Still, Euro or not, I think everyone has been wrecked by inflation post-COVID.
Not sure what you mean. Everything has been getting cheaper in sats.
Will Quantum Computing Help Recover the Forever Lost Bitcoins?
We are SO far away from that. Not even sure whether this will ever happen. As far as I am aware, the largest number that was successfully factored with Shor's algorithm is 21. 😂️
Those addresses are far more vulnerable than the hash and script based ones you mention.
Under the assumption that quantum computers can ever derive the private key from the public key.
On the other hand one could also argue that P2TR is more resistant to brute-force attacks than the hash-based addresses.
The hashing algorithm used in P2PKH, P2WPKH... is RIPEMD160, which produces a 160 bit long hash. In principle, that means many different 256 bit private keys map to the same 160 bit hash (and therefore the same address).
But a Taproot address consists of a 256 bit long compressed public key. That's much harder to brute-force.
Sigh, quantum fearmongering again.
Bitcoin uses elliptic curve cryptography (ECC).Private key k, public key P = k*G.
Yeah, Elliptic Curve Digital Signature Algorithm (ECDSA) to be more specific.
When you spend, your public key is revealed.
That is the case for P2PKH, P2SH, P2WPKH and P2WSH.
P2TR outputs (bc1p...) themselves are already the public key, so for those addresses it does not matter whether you spend or not.
Experts give a 50% chance we’ll see quantum computers that can break ECC by 2030–2035.
Highly doubt it. Right now there is no quantum computer in existence that can even run Shor's algorithm.
More people in Bitcoin results in more places to spend and earn Bitcoin directly.
Bitcoin also promotes saving and disincentivizes wasteful consumerism which is destroying the nature around us.
There is just one thing that slightly triggers me about this Bitaxe board:
The placement of the antenna of the ESP32 ‒ The antenna should be sticking out of the board (preferably at the top) for a better WiFi signal.
The shrinking-pie effect of the shares per block rewards early miners but leaves later miners with barely any reward. I find it hard to believe that miners would rather mine on a "sharechain" with these incentives than mine with a regular pool.
Did this ever have an intended or practical purpose ?
In the early days of Lightning (2018-ish) the network was still small enough for it to be easily visualized on a map. Each node would show up in its respective color on that map.
Here is a snapshot of such a visualizer from January 2018:
http://web.archive.org/web/20180118075741/https://lnmainnet.gaben.win/
We see that taproot (p2tr) is the most common UTXO type (at 34.2%), followed shortly by p2pkh (28.8%) & p2wsh (26.5%).
Should be "...p2pkh (28.8%) & p2wpkh (26.5%)"
Please read my message again
Finding the prime factors of 21 is far from enough for cracking a Bitcoin private key. I can figure out in my head that 3*7 = 21. That's the level quantum computers are on right now. So I am not worried about quantum computers cracking Bitcoin private keys any time soon.
Shor's algorithm in practice can just about find the prime factors of 21. I can do that in my head. Don't need a quantum computer for that.
Here you can see the size of the UTXO set over the past 5 years:
https://statoshi.info/d/000000009/unspent-transaction-output-set?orgId=1&refresh=5s&from=now-5y&to=now
It completely exploded in 2023. No wonder your 8 GB RAM Pi performs poorly on a 11 GB UTXO set.
You could still try increasing the value of
dbcache= in your bitcoin.conf to a number of Megabytes that still fits in your memory. Might improve performance a little.