277 karma · joined July 9, 2011
There are plenty of other low-fee, non-PoW coins out there, that the article should have spent more time comparing to instead; So we know that stellar doesn't use PoW - what I want to know is why the Stellar consensus algorithm is better when compared to the other similar alternatives out there, and what makes it faster and more secure. They also leave an elephant in the room - how is Stellar more resistant to censorship? What I'd really be interested in reading is why they chose it based on technical merits, rather than talking down other projects.
The article, as I understood, the caller predicts the outcome of the 'random' function first, and then calls if the result is favourable. It seems like yours is more efficient, as it relies on using revert() to undo all state changes, if the outcome was unfavourable, so no need to predict anything!
Seriously though, nice find. What would be a way to defend against this?
Take a look at Coinbase's Alexa ranking: https://www.alexa.com/siteinfo/coinbase.com
220 - up from around 3000 12 months ago! That is simply incredible. A site like that would get buried in support tickets fast, especially after such growth.
Another interesting metric, they are beating Citibank:https://www.alexa.com/siteinfo/citi.com
That's the line I often see on Twitter / Reddit and usually gets a lot of upvotes, despite being irrational, with no proof to back it up.
As bitcoin falls, the demand for Tethers goes up. To keep Tethers pegged to, say, $1 USD, they need issue more to meet the demand, which would be a more rational explanation why more were issued.
Source: https://www.reddit.com/r/Ripple/comments/6jd9w6/this_is_the_...
If so, would every bank need to halt trading in a currency before adding it?
There are different definitions of inflation/deflation, but the price is always a function of supply-and-demand, therefore it all boils down to the supply, where the issuance rate & eventual supply cap is what gives a crypto-currency its inflationary/deflationary properties.
Perhaps real deflationary effects of bitcoin will probably kick in after 3 halvings (about 10 years?), when the number of bitcoin that is being lost naturally becomes greater than the inflation. However, at that stage, bitcoin fees would need to dramatically increase from what they are now.
This is probably a paradox of deflationary crypto-currencies: They need to raise revenue from fees to pay for validation/security, however if there's more incentive to hold rather than spend them, their revenue raising ability becomes constricted. Whenever this is true, I'm excited that we'll find this out in the future.
About the point on using floats, one should never use floats when working with money, this is because floats are not precise and result in rounding errors (eg. 0.1 + 0.2 results 0.30000000000000004, see for details http://0.30000000000000004.com ). One of the simplest approaches to solve it is to work with the smallest units, so if working with dollars then you can use cents and that means you can use integers which give more precision, which is how Solidity currently deals with it, by working with the smallest unit of Ether which is 'wei'. Some of the units listed here https://etherconverter.online
You might notice that the table (conveniently) starts from 2010, after a good chunk of coins already has been mined. 2011-2012 is when a lot of the new devs came in which is the new generation, but it was getting much more difficult to mine then.
There's also so many problems with git commit history, so let's be honest here, ie. How many commits doesn't tell the whole story.
Hey, btw, my comments are just observations & not meant to criticize, sorry if you think I'm attacking you. I'm pretty positive about bitcoin and I think it's good that it can re-invent itself and find a good niche (the b2b / institutional market could be huge and certainly would see Bitcoin really growing up). The direction that the current team has chosen to lead it to has certainly paid off well. I sincerely wish the project more success in the future!
It's also hard to tell if Bitcoin developers are all in or not. Note that developers can have different interests than holders (eg. The want to get control of the codebase in order to get status and recognition & hopefully future consulting contracts). Note that the current bitcoin devs are mostly a new generation that got later in the game. Source & analysis about this point here http://hackingdistributed.com/2017/08/26/whos-your-crypto-bu...
Their business plans are ruined if Bitcoin fees get too high. Note that 'extremely low fees' was the original selling point of Bitcoin which now has been ruined. So they were simply defending their businesses.
The interesting part of the Bitcoin experiment is that so far it has had a very large inflation. This has been decreasing, and the critical part of the experiment will determine if a deflationary currency will work or not. My guess is that it might be in danger of collapse as miners will not want to mine it due to lack of incentive, meanwhile users would not want to transact since most will be hoarding it. Which is when the issuance rate might need to be fixed just to keep the miners rewards going...at least, it's one of the scenarios to consider...
It seems like everything except the 'i' is a prefix, a lot of computing must have went in to generating it.
One tool to do it is called 'Shallot' https://github.com/katmagic/Shallot
The readme includes a table of estimated computing time required. A 15 char prefix like Facebook's is not even on the table, and a 14 char prefix is estimated to take 2.6 million years. There is also a GPU version which should be an order of magnitude faster: https://github.com/lachesis/scallion/blob/gpg/README.md
Also, technically. the onion addresses not public keys, but derived from a public key. It's actually a hash of the public key.
It appears that the hashing algorithm used is SHA1. Source: The last few lines of the easygen function https://github.com/katmagic/Shallot/blob/master/src/math.c
Btw, found my answer after some googling, they were upgraded in the early 90's then again in early 2000's http://www.aviationtoday.com/1999/11/01/the-space-shuttle-mo...
quote "In addition to 11 MDUs in the shuttle, MEDS has four integrated display processors (IDPs) that contain 386DX computers and a 300-megabyte hard disc."
MDU - multiple display unit.
Woah. Did they do this right until 2011, or were their systems upgraded?
News would be boring if it wasn't for the negative stuff.
All I'm saying that one should always question the motives of the media & not necessarily conclude a general opinion just by reading a bunch of articles that landed on the front page.
As for the exploit itself, it's hard to believe that in this day and age XSS is still a problem despite so many solutions & fixes for it.