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Messages - ABCbits

Pages: 1 ... 27 28 [29] 30 31 ... 34
421
Privacy Coins Forum / Re: CMC is JUNK and Anti Privacy!
« on: January 31, 2024, 01:25:29 PM »
The ranking is based on market capacity. If a currency claims to be a privacy coin and has a higher market cap than Monero, you will find it first. I read articles about ICP and privacy, but they confuse privacy with decentralization, as they consider that the inability to censor or delete applications means enhancing customer privacy.

https://internetcomputer.org/how-it-works/web-authentication-identity/

You made curious and did further research. According to https://internetcomputer.org/internet-identity, their privacy comes from providing unique key for each service we use. But we could achieve similar things by using different email address for each service. As for their passkey, there are some traditional software and hardware which offer same thing.

422
I just compared estimated income shown by Kryptex[1] with Nicehash[2], where i find it's weird some GPU could earn more on Kryptex rather than NiceHash. Anyway, i'd rather use NiceHash since they're more popular and some of their application is open-source[3]. OP, do you have personal experience with Kryptex?

[1] https://www.kryptex.com/en/best-gpus-for-mining
[2] https://www.nicehash.com/mining-hardware
[3] https://github.com/nicehash/NiceHashMiner

423
Question 1
Would you prefer to pay with Bitcoin whose price is about $43K, or you would prefer to pay with a particular coin whose price is about 50cents ?.

First instance: Bitcoin
Second instance: Bitcoin

Question 2
Give your explanation on why you made such decision.

First instance: If the merchant bother coin with low base price, i assume they also accept Bitcoin on Lightning Network or sidechain where i can avoid relative high Bitcoin TX fee for $5 coffee.
Second instance: Bitcoin TX fee (on-chain) doesn't really matter when i plan to send $300K. Besides, it'll encourage the seller to continue accept Bitcoin.

Question 3
Did you use a reasonable approach in making such decision or it was based on choice ?.

Mostly based on my choice.

424
Cryptocurrency discussions / Re: The future of blockchains backed by CEXs
« on: January 31, 2024, 12:49:51 PM »
Recently, Coinbase introduced Base blockchain - Layer-2 of Ethereum[6]. I see Coinbase's ambition to create its own ecosystem like Binance did. However, Base will have to compete with very strong Layer-2 blockchains such as Optimism and Arbitrum. The competition in the blockchain market is extremely fierce, the weaker will be eliminated and forgotten.

At this point, i already lost how many L2 for ETH out there. They should've build Bitcoin sidechain, since currently only Liquid and Rootstock exist.

Do you think in the next cycle, will other exchanges continue to introduce their new own blockchains?

If they do their research (like what you did), i expect they wouldn't take such risk.

Can blockchains backed by CEXs compete with independent blockchains that do not rely on CEXs in the market?

Probably no. There so many non-decentralized blockchain (even if they claim the opposite), so without major backing and innovative feature, i expect such blockchain will failed or unpopular.

425
Honestly, i don't expect much from this partnership. Today's Sega isn't as great as Sega from last century, while average gamer still shows resistance towards Blockchain and similar stuff. But looking at Finschia, it looks like their technology alraedy used by some big companies[1]. Although none of those company is in game sector.

[1] https://www.finschia.network/use-cases/

426
What will you do?

If it sent to address that i share publicly (e.g. address for signature campaign), i probably will wait until people who claim as the owner contact me. Otherwise, i'll do one of things which already stated by other member.

Will you immediately sent the money back to the address it came from?

No, if it comes from custodial service/wallet, it won't return to the rightful owner and will cause additional complexity for both owner and custodial service/wallet.

427
Bitcoin Forum / Re: Does using BTC XMR BTC enhances your privacy?
« on: January 30, 2024, 12:14:55 PM »
One of the suggestions to enhance your privacy (if you do not want to use mixers, Coinjoin Whirlpool or Jointmarket) was swapping your Bitcoin to Monero and back to bitcoin, but is your privacy definitely enhanced?

It depends on many things, including when you perform the exchange and whether the exchange keep logs or not.

I will pose 3 main challenges:

If your Bitcoin address is blacklisted, how will BTC/XMR/BTC solve this problem, because you are simply pushing the problem to the other user.

When you exchange XMR to BTC, you may receive Bitcoin from a blacklisted address. Will you exchange it again or use a mixer?

There is a possibility that you will receive the same BTC especially in the case of P2P or if the exchange you are using to exchange XMR has a limited BTC reserve.

Your thread asking about privacy, but those challenge is mostly about "tainted" and "clean" Bitcoin. As for receiving same BTC, it could be avoided by using different exchange and set some delay so BTC you owned in past already handed to someone else.

428
Bitcoin Forum / Re: BTC failing as a payment method
« on: January 30, 2024, 12:11:01 PM »
What are your thoughts on this Decembers congestion in the mempool and how were you able to complete your transaction?

I simply pay for more stuff/goods at once when i create Bitcoin transaction. Besides, achieving both decentralization and cheap TX fee is really tall order.


~snip~
bitcoin became more of an investment asset than a currency. This is the reality that everyone has embraced.
~

Yep, For now bitcoin more of an investment asset, but don't worry.
At the coming years bitcoin will be a currency and payment method.
Bitcoin will be more popular.
we know, bitcoin still against negative issues and several time has been blocked at several countries.
It's just processe..So wait and see.
I believe bitcoin will be currency.
It need a long time, not fo now.

But we can do more than believe, by using Bitcoin as payment method. Paid VPN or gift card usually are good starter.

429
Forum related / Re: What subforums should be removed ?
« on: January 29, 2024, 01:23:56 PM »
admin, can we get an update on how things are developing here?
Perhaps which proposals are being considered, which have been adopted... I believe that if you have any doubts, maybe a discussion and additional suggestions would help.

It looks like admin already made several change without creating notice/announcement. For example, all threads created on "Further Education" moved to another board and "Further Education" now located under "For Beginners" while previously it was under "Learning & News".

430
It's a shame CoinGecko doesn't mention whether the price already include transfer cost or not. For example, Storj have additional bandwidth cost[1] which usually seen as hidden/extra cost.

I think IPFS is based on Filecoin and it works similar decentralized way like bittorrent.

That's not true. IPFS is independent project/network. Skimming IPFS blog[2], Filecoin is optional where it's used to ensure certain content remain available by paying someone.

[1] https://docs.storj.io/dcs/pricing
[2] https://blog.ipfs.tech/2021-06-03-ipfs-filecoin-content-persistence/

431
Privacy Coins Forum / Re: CMC is JUNK and Anti Privacy!
« on: January 29, 2024, 12:58:20 PM »
I didn't expect CMC to fall this low.

They made ICP or Internet Computer as number one privacy coin that has nothing to do with privacy at all, and it is ranked above Monero now.

In addition, when i checked ICP website (which mentioned by CMC), the homepage doesn't even mention privacy or anonymity.

Even worse, they added WLD Worldcoin ranked at fifth place and they literally scanned eyeballs of people around the world for this crap  ::)

At least worst, someone who works for CMC check their homepage and immediately categorize WLD as privacy coin due to words "Privacy-first". Although

432
My personal opinion is that it is a measure that is easy to manipulate and therefore cannot be trusted.

Yeah, manipulation is big concern when we use ranking or market cap. Many stablecoin gain high position by convert fiat to their stablecoin. And for really unpopular coin, it's trivial to manipulate exchange rate in order to boost their position or make their coin appear on top rising coin. Even BSV have position #51 on CMC.

433
They do removed liquidity? Which means they are very centralized and other user are affected. This is one of the reasons not to use all these centralized coins/tokens.

It's possible they actually wanted to say they don't accept trading request from decentralized exchange. Nevertheless, i would assume such token is centralized on certain aspect.

Animoca constantly keeps getting bad publicity, I am feeling like its just a company that is not managed well. Good news is, there was not a single token stolen from the people, it was just the reserves for the team, nothing more. That did not stop people selling of course, its basically already gone. In any case, I feel like this wasn't that big, plus it wasn't 600 million dollars or anything, it was less than 15 million dollars worth at the time of hack, probably much much less now. They should be glad that it stopped there, it could have been something much major if they didn't stop the hackers on time, it was only the reserves that got hacked, so it should be fine.

But CoinMarketCap state there are only 3.18 billion GMEE token[1]. About 1/5 of all token got stolen sounds very serious to me.

[1] https://coinmarketcap.com/currencies/gamee/

434
It's great to see cryptocurrency company receive investment. But even though these days Brink offer some digital product/service, i don't expect their expertise very useful for BitGo wallet and custodial service.

435
Forum related / Re: Password Encryption on Altcoinstalks
« on: January 27, 2024, 01:13:42 PM »
Here is the hasing code used to generate the hashes
sha1(strtolower('username') . 'password');
That's a form of salted password so breaking it fairly impossible.

If i understood it correctly, does that mean the salt is our username? If it's true, IMO it's not very strong since the salt is known and one high-end GPU can perform 51 billion SHA1/second (Hash-Mode 110)[1]. Please correct me if i'm wrong.

[1] https://gist.github.com/Chick3nman/32e662a5bb63bc4f51b847bb422222fd

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