5 Best Bitcoin Mining Hardware ASIC Machines (2020 Rigs)

Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies.

Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies. submitted by Wagamaga to science [link] [comments]

Instead of charging money, can a streaming company simply require that you let them use your computer to mine Bitcoin or other cryptocurrency for the duration of your stream?

The UFC apparently has already been doing this (but being a dick about it by not getting your permission first).
Still, is there a reason this would actually be a bad business model? What would the economics of this be? What would the limiting factors be? Why isn't every online streaming company - especially Netflix, YouTube or Pornhub - already in on this game?
For example, a monthly $16 Netflix subscription is pretty reasonably priced but is right now worth only 0.0016 Bitcoin. How much time would you have to spend streaming (on a Bitcoin-mining capable device) to mine
Edit: As the comments point out possible roadblocks, I'll account for them here:
submitted by StanzinTheScribe to NoStupidQuestions [link] [comments]

Anybody in SoCal that would allow me to practice on their semi-truck (preferably equipped with a manual transmission) for 2-3 days in an empty parking lot? I'll buy you food, fix your computer, build you a computer or do something requiring a tech-savy person. I also have $100 worth of Bitcoin.

As the title suggests, I am looking for someone with a semi-truck (preferably one with a manual transmission) that's located somewhere in Southern California. Don't worry, I won't burn your clutch (I've been driving stick for about 7 years and have driven semi-trucks before). I need a truck to practice on so I can take my behind-the-wheel for the second time. I already have my CLP and all my endorsements (HazMat, Double-Triple trailers, Tankers, etc.); I also have my TWIC card.
I already tried paying a trucking school about $800 to borrow their truck and trailer and have them train me for a couple of hours. Unfortunately, I failed my behind-the-wheel because I forgot to mention the 55-75 psi parameter when demonstrating that the warning devices for the Low Air Warning part of my Air Brake test are fully functional.
I can't afford to rent another truck and trailer, so I'm hoping someone out there in the reddit community can help a fellow redditor out. I'm even willing to ride along with you to your deliveries and or pickups, if you give me the the opportunity to drive your truck and trailer on occasion on an empty parking lot (or, if you trust me enough, on the open road, haha). I mostly want to work on my backing, parallel parking, alley dock, and Pre-Inspection (ie. pointing out every small part in the engine compartment, suspension and trailer). I think 2-3 days of practice would be sufficient for me and I would be ready to retake my behind-the-wheel.
I may not have much money to offer you, but I can buy you food here and there, or help you fix your computer or some electronic. I consider myself a tech-savy person, have built computers in the past, so I have some skills to offer.
Just in case no one responds to this post, I have already applied to Prime, since they offer free and paid training. However, I would have preferred having my CDL before working for any trucking company.
Thanks for reading :)
Edit/Update 1: I am going to go to the trucking school where I originally rented the truck for my first behind-the-wheel and take a two week course with them, which includes two trips to the DMV (hopefully I'll just need one). My parents are willing to loan me the money to help me out. I will update in a couple of weeks when I get my CDL, knocks on wood
Edit/Update 2: I passed my behind the wheel at the DMV this past Thursday, 04 October 2018 :D !!!! I am now a proud holder of a CDL A with all my endorsements (HazMat, Double-Triple Trailers, Tanker, etc.). My actual physical license should come in 2-3 weeks, according to the DMV. I'm gonna start looking for my first truck driving job starting Monday. I hope I have some luck finding a decent company and get assigned a truck with a 10-speed or 18-speed manual transmission :)
submitted by PmMeYourFeels to Truckers [link] [comments]

Considering the computing power required to create new transactions in blockchain currencies such as Bitcoin, would it be plausible to use a blockchain currency as a worldwide currency with billions of transactions?

I'm talking about computing power alone not factoring in economic factors or anything else.

(Also let me know if this a totally invalid question. I only have surface-level knowledge about blockchain.
submitted by jake8796 to AskComputerScience [link] [comments]

"The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now." u/thezerg1 - Bitcoin Unlimited

Being ready for the next Fidelity would be good.
Its been done for several years now in BU but some engineering is probably required on the other clients since there are crashing/hanging issues that I had to fix.
I am saying if a 128MB block is generated the client can handle it. The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now.
https://www.reddit.com/btc/comments/9gfcvx/the_most_unnoticed_revelation_that_the_stress/e65z7c5/?context=3
submitted by Zarathustra_V to btc [link] [comments]

Is bitcoin mining even worth it with one computer? What would be the minimum requirements for a pc to be able to mine?

submitted by VI6XII12VI6 to pcmasterrace [link] [comments]

[new estimate] Quantum computers require at most 2330 qubits and 129 billion gates to crack Bitcoin's secp256k1 elliptic curve (we are at 17 qubits today).

submitted by blk0 to Bitcoin [link] [comments]

Fred Wilson: One of the two biggest obstacles for mainstream Bitcoin acceptance is that Bitcoin requires secure computers

Fred Wilson: One of the two biggest obstacles for mainstream Bitcoin acceptance is that Bitcoin requires secure computers submitted by DrunkRaven to Bitcoin [link] [comments]

As more Bitcoin goes into circulation from the 21 million Bitcoin limit mining requires more computing power?

So wouldn't this kill of your average miner and give the power of mining to bigger corporations who can afford to have high amount of computing power to solve these harder mathemathical problems?
submitted by universeatom to Bitcoin [link] [comments]

"The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now." u/thezerg1 - Bitcoin Unlimited /r/btc

submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

"The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now." u/thezerg1 - Bitcoin Unlimited /r/btc

submitted by cryptoallbot to cryptoall [link] [comments]

So what would happen to bitcoin or crypto if there was a revolution in computing power? A key tenant of bitcoin is that it requires exponentially more difficult problems in order to mine, but what happens if we outpace what was meant to hold us back? Quantum computing pops into mind as an obstacle.

submitted by coolcatCS to Bitcoin [link] [comments]

You may be in quarantine, but that doesn’t mean we aren’t! For those who don’t know, every month this subreddit makes a millionaire out of one comment, and donates. With danger out and about, take some time and comment to enter! [Drawing Thread #52]

I thought this year would be a lot more normal.

Introduction:
Welcome to anyone and everyone coming from /popular. To be honest, I probably should've expected this, given that most of us are staying home.
For those who aren't familiar: every month, we ask for comments for entry, and we pick one who represents our winner. This process is completely random and verifiable, using the Bitcoin blockchain as a sophisticated die. Following this, people then donate to the winner using a variety of mediums, and the winner would go on to be a "millionaire" (arguably, our definition of that term is pretty loose).
So once again, thank you for your support. The post lasts for 24 hours before getting locked, so make sure you place your comment before 7 PM ET. In addition, I may make a [Part 2] if we reach the limit. If that happens, I will sticky a comment on this post temporarily. Let's make a millionaire!
In Case You Missed It:

Information

  • REQUIRED: Leave only one (1) top level comment in reply to this thread! (Replying to other comments will not qualify. You must be thirty days old or older to comment.)
  • A random user who commented will be chosen, and everyone donates a dollar to make a millionaire.
  • February 19 at 7:00 PM ET (epoch timestamp: 1582153200 (a bit tricky taking DST into consideration, it’s been updated)) is the cutoff for accounts. If you have created your account after this point, you are not eligible to enter and your submission will be disqualified automatically.
  • March 22 at 12:00 PM ET (epoch timestamp: 1584892800) will begin the process of selecting the winner. At this time, the [Draw] post will be online and start the process of waiting for the blockchain, in order to select the winner randomly and verifiably.
  • If you'd like to be reminded to donate to the winner through PM via the RemindMeBot, click here! You can also be reminded by commenting in the thread: "RemindMe! 3 days Donation for /millionairemakers".
  • That's it! If you would like to see the extended rules and FAQs, or if you have questions yourself, click here to be redirected to the thread! Additionally, look out for the stickied post at /millionairemakersmeta. You are welcome to spread this thread via upvoting, telling friends and family, and sharing on social media!

Major Announcements

Mini Survey:
NOTE: A Google account is required to respond to hinder tampering, but you are not obligated to answer.
So I’ve been thinking about this for a while: people are not having pleasant experiences with PayPal. If the account isn’t blocked, then there are issues with fees, fear of the seizure of funds, and the risk of revealing personally identifiable information. However, it is the largest platform used by /MillionaireMakers, and is the provider of most donations on this subreddit.
This survey is purely to see how people feel about this. Unless if the winner chooses to not accept PayPal, we will continue to offer this service for tonight’s thread.
My questions are:
1) How would you feel about a ban on the PayPal service here on /MillionaireMakers?
2) Would removing PayPal as a service affect your ability to donate?
3) Should /MillionaireMakers remove PayPal?
I will periodically post results here. If you are interested in responding, please answer here, answers will not be accepted at the time the [Draw] is posted: https://docs.google.com/forms/d/e/1FAIpQLSffkP3SKdTi9lLPbtO8taG4_-cdctYlAf8SvohvzoJvTOYdhw/viewform?usp=sf_link
Drawing Process Mini-Update:
This is as short as they come, leroy627 has made a commit to the repository that adds backwards-compatibility up to Python 3.5. Procedure will be run with the following conditions: the first comment of duplicates are kept for the month of March, and any ineligible comments will be removed.
If you are interested in more information, see [Drawing Thread #51]: https://reddit.com/millionairemakers/comments/f7jdxz/alright_were_getting_back_into_the_flow_happy/

Conclusion

Sunday at 12 PM ET (16 UTC), we will be picking our winner, and you won’t want to miss it. The post will be labeled [Draw], and one comment will be selected out of the many made here to make a winner!
Remember, this is about generosity, making an impact, and uniting to make someone's life better. It takes three minutes to donate a bit to the winner, whether you're well off and want to donate a couple bucks, or going through tough times and can only donate a few coins. Every cent makes cents, and counts!
If a lone $1 can get you a mask for obvious reasons, then imagine the possibilities with $1,000,000. You can get a full-body suit, new doors, and someone to love you! Admittedly, for the wrong reasons, but the option is there.
A million dollars can make someone’s suffering less sufferable. Spread the word: have your friends and family comment, post the link to your friendly-neighborhood social media network, and share it to anyone interested.

Let’s make a millionaire!

Why, kind Haiku? Why?
Am I to atone in home?
Perhaps. I’ll get by.
submitted by MakerOfMillionaires to millionairemakers [link] [comments]

[r/science] Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies.

[science] Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies. submitted by lyonsy1 to IrelandonReddit [link] [comments]

When/if Bitcoin needs to implement protection against Quantum-computing, is there a way to make it as time consuming without requiring as much electricity?

submitted by Phalex to Bitcoin [link] [comments]

03-02 20:23 - 'Centralization is a scaling issue. Scaling inherently requires more computing resources (not just storage), which makes it more difficult for people to run nodes, and also makes it more demanding for existing nodes to rema...' by /u/buttonstraddle removed from /r/Bitcoin within 0-9min

'''
Centralization is a scaling issue. Scaling inherently requires more computing resources (not just storage), which makes it more difficult for people to run nodes, and also makes it more demanding for existing nodes to remain in operation.
The network is more robust with the more decentralization we have. The only benefit bitcoin offers over other payment systems and currencies is that it gives its users the power and control, without interference from governments and banks. That is the only benefit. Blockchains are an extremely inefficient technology, and so they will never match the speed or usability of a completely centralized system such as paypal or visa. But that's ok, because that's not bitcoins use-case. And so, to achieve bitcoin's only advantage over these systems (resistance against government), we should want as much decentralization as possible
Luke's view is that we are already too centralized
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: buttonstraddle
submitted by removalbot to removalbot [link] [comments]

[new estimate] Quantum computers require at most 2330 qubits and 129 billion gates to crack Bitcoin's secp256k1 elliptic curve (we are at 17 qubits today).

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

When/if Bitcoin needs to implement protection against Quantum-computing, is there a way to make it as time consuming without requiring as much electricity? /r/Bitcoin

When/if Bitcoin needs to implement protection against Quantum-computing, is there a way to make it as time consuming without requiring as much electricity? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Technical: Taproot: Why Activate?

This is a follow-up on https://old.reddit.com/Bitcoin/comments/hqzp14/technical_the_path_to_taproot_activation/
Taproot! Everybody wants it!! But... you might ask yourself: sure, everybody else wants it, but why would I, sovereign Bitcoin HODLer, want it? Surely I can be better than everybody else because I swapped XXX fiat for Bitcoin unlike all those nocoiners?
And it is important for you to know the reasons why you, o sovereign Bitcoiner, would want Taproot activated. After all, your nodes (or the nodes your wallets use, which if you are SPV, you hopefully can pester to your wallet vendoimplementor about) need to be upgraded in order for Taproot activation to actually succeed instead of becoming a hot sticky mess.
First, let's consider some principles of Bitcoin.
I'm sure most of us here would agree that the above are very important principles of Bitcoin and that these are principles we would not be willing to remove. If anything, we would want those principles strengthened (especially the last one, financial privacy, which current Bitcoin is only sporadically strong with: you can get privacy, it just requires effort to do so).
So, how does Taproot affect those principles?

Taproot and Your /Coins

Most HODLers probably HODL their coins in singlesig addresses. Sadly, switching to Taproot would do very little for you (it gives a mild discount at spend time, at the cost of a mild increase in fee at receive time (paid by whoever sends to you, so if it's a self-send from a P2PKH or bech32 address, you pay for this); mostly a wash).
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash, so the Taproot output spends 12 bytes more; spending from a P2WPKH requires revealing a 32-byte public key later, which is not needed with Taproot, and Taproot signatures are about 9 bytes smaller than P2WPKH signatures, but the 32 bytes plus 9 bytes is divided by 4 because of the witness discount, so it saves about 11 bytes; mostly a wash, it increases blockweight by about 1 virtual byte, 4 weight for each Taproot-output-input, compared to P2WPKH-output-input).
However, as your HODLings grow in value, you might start wondering if multisignature k-of-n setups might be better for the security of your savings. And it is in multisignature that Taproot starts to give benefits!
Taproot switches to using Schnorr signing scheme. Schnorr makes key aggregation -- constructing a single public key from multiple public keys -- almost as trivial as adding numbers together. "Almost" because it involves some fairly advanced math instead of simple boring number adding, but hey when was the last time you added up your grocery list prices by hand huh?
With current P2SH and P2WSH multisignature schemes, if you have a 2-of-3 setup, then to spend, you need to provide two different signatures from two different public keys. With Taproot, you can create, using special moon math, a single public key that represents your 2-of-3 setup. Then you just put two of your devices together, have them communicate to each other (this can be done airgapped, in theory, by sending QR codes: the software to do this is not even being built yet, but that's because Taproot hasn't activated yet!), and they will make a single signature to authorize any spend from your 2-of-3 address. That's 73 witness bytes -- 18.25 virtual bytes -- of signatures you save!
And if you decide that your current setup with 1-of-1 P2PKH / P2WPKH addresses is just fine as-is: well, that's the whole point of a softfork: backwards-compatibility; you can receive from Taproot users just fine, and once your wallet is updated for Taproot-sending support, you can send to Taproot users just fine as well!
(P2WPKH and P2WSH -- SegWit v0 -- addresses start with bc1q; Taproot -- SegWit v1 --- addresses start with bc1p, in case you wanted to know the difference; in bech32 q is 0, p is 1)
Now how about HODLers who keep all, or some, of their coins on custodial services? Well, any custodial service worth its salt would be doing at least 2-of-3, or probably something even bigger, like 11-of-15. So your custodial service, if it switched to using Taproot internally, could save a lot more (imagine an 11-of-15 getting reduced from 11 signatures to just 1!), which --- we can only hope! --- should translate to lower fees and better customer service from your custodial service!
So I think we can say, very accurately, that the Bitcoin principle --- that YOU are in control of your money --- can only be helped by Taproot (if you are doing multisignature), and, because P2PKH and P2WPKH remain validly-usable addresses in a Taproot future, will not be harmed by Taproot. Its benefit to this principle might be small (it mostly only benefits multisignature users) but since it has no drawbacks with this (i.e. singlesig users can continue to use P2WPKH and P2PKH still) this is still a nice, tidy win!
(even singlesig users get a minor benefit, in that multisig users will now reduce their blockchain space footprint, so that fees can be kept low for everybody; so for example even if you have your single set of private keys engraved on titanium plates sealed in an airtight box stored in a safe buried in a desert protected by angry nomads riding giant sandworms because you're the frickin' Kwisatz Haderach, you still gain some benefit from Taproot)
And here's the important part: if P2PKH/P2WPKH is working perfectly fine with you and you decide to never use Taproot yourself, Taproot will not affect you detrimentally. First do no harm!

Taproot and Your Contracts

No one is an island, no one lives alone. Give and you shall receive. You know: by trading with other people, you can gain expertise in some obscure little necessity of the world (and greatly increase your productivity in that little field), and then trade the products of your expertise for necessities other people have created, all of you thereby gaining gains from trade.
So, contracts, which are basically enforceable agreements that facilitate trading with people who you do not personally know and therefore might not trust.
Let's start with a simple example. You want to buy some gewgaws from somebody. But you don't know them personally. The seller wants the money, you want their gewgaws, but because of the lack of trust (you don't know them!! what if they're scammers??) neither of you can benefit from gains from trade.
However, suppose both of you know of some entity that both of you trust. That entity can act as a trusted escrow. The entity provides you security: this enables the trade, allowing both of you to get gains from trade.
In Bitcoin-land, this can be implemented as a 2-of-3 multisignature. The three signatories in the multisgnature would be you, the gewgaw seller, and the escrow. You put the payment for the gewgaws into this 2-of-3 multisignature address.
Now, suppose it turns out neither of you are scammers (whaaaat!). You receive the gewgaws just fine and you're willing to pay up for them. Then you and the gewgaw seller just sign a transaction --- you and the gewgaw seller are 2, sufficient to trigger the 2-of-3 --- that spends from the 2-of-3 address to a singlesig the gewgaw seller wants (or whatever address the gewgaw seller wants).
But suppose some problem arises. The seller gave you gawgews instead of gewgaws. Or you decided to keep the gewgaws but not sign the transaction to release the funds to the seller. In either case, the escrow is notified, and if it can sign with you to refund the funds back to you (if the seller was a scammer) or it can sign with the seller to forward the funds to the seller (if you were a scammer).
Taproot helps with this: like mentioned above, it allows multisignature setups to produce only one signature, reducing blockchain space usage, and thus making contracts --- which require multiple people, by definition, you don't make contracts with yourself --- is made cheaper (which we hope enables more of these setups to happen for more gains from trade for everyone, also, moon and lambos).
(technology-wise, it's easier to make an n-of-n than a k-of-n, making a k-of-n would require a complex setup involving a long ritual with many communication rounds between the n participants, but an n-of-n can be done trivially with some moon math. You can, however, make what is effectively a 2-of-3 by using a three-branch SCRIPT: either 2-of-2 of you and seller, OR 2-of-2 of you and escrow, OR 2-of-2 of escrow and seller. Fortunately, Taproot adds a facility to embed a SCRIPT inside a public key, so you can have a 2-of-2 Taprooted address (between you and seller) with a SCRIPT branch that can instead be spent with 2-of-2 (you + escrow) OR 2-of-2 (seller + escrow), which implements the three-branched SCRIPT above. If neither of you are scammers (hopefully the common case) then you both sign using your keys and never have to contact the escrow, since you are just using the escrow public key without coordinating with them (because n-of-n is trivial but k-of-n requires setup with communication rounds), so in the "best case" where both of you are honest traders, you also get a privacy boost, in that the escrow never learns you have been trading on gewgaws, I mean ewww, gawgews are much better than gewgaws and therefore I now judge you for being a gewgaw enthusiast, you filthy gewgawer).

Taproot and Your Contracts, Part 2: Cryptographic Boogaloo

Now suppose you want to buy some data instead of things. For example, maybe you have some closed-source software in trial mode installed, and want to pay the developer for the full version. You want to pay for an activation code.
This can be done, today, by using an HTLC. The developer tells you the hash of the activation code. You pay to an HTLC, paying out to the developer if it reveals the preimage (the activation code), or refunding the money back to you after a pre-agreed timeout. If the developer claims the funds, it has to reveal the preimage, which is the activation code, and you can now activate your software. If the developer does not claim the funds by the timeout, you get refunded.
And you can do that, with HTLCs, today.
Of course, HTLCs do have problems:
Fortunately, with Schnorr (which is enabled by Taproot), we can now use the Scriptless Script constuction by Andrew Poelstra. This Scriptless Script allows a new construction, the PTLC or Pointlocked Timelocked Contract. Instead of hashes and preimages, just replace "hash" with "point" and "preimage" with "scalar".
Or as you might know them: "point" is really "public key" and "scalar" is really a "private key". What a PTLC does is that, given a particular public key, the pointlocked branch can be spent only if the spender reveals the private key of the given public key to you.
Another nice thing with PTLCs is that they are deniable. What appears onchain is just a single 2-of-2 signature between you and the developemanufacturer. It's like a magic trick. This signature has no special watermarks, it's a perfectly normal signature (the pledge). However, from this signature, plus some datta given to you by the developemanufacturer (known as the adaptor signature) you can derive the private key of a particular public key you both agree on (the turn). Anyone scraping the blockchain will just see signatures that look just like every other signature, and as long as nobody manages to hack you and get a copy of the adaptor signature or the private key, they cannot get the private key behind the public key (point) that the pointlocked branch needs (the prestige).
(Just to be clear, the public key you are getting the private key from, is distinct from the public key that the developemanufacturer will use for its funds. The activation key is different from the developer's onchain Bitcoin key, and it is the activation key whose private key you will be learning, not the developer's/manufacturer's onchain Bitcoin key).
So:
Taproot lets PTLCs exist onchain because they enable Schnorr, which is a requirement of PTLCs / Scriptless Script.
(technology-wise, take note that Scriptless Script works only for the "pointlocked" branch of the contract; you need normal Script, or a pre-signed nLockTimed transaction, for the "timelocked" branch. Since Taproot can embed a script, you can have the Taproot pubkey be a 2-of-2 to implement the Scriptless Script "pointlocked" branch, then have a hidden script that lets you recover the funds with an OP_CHECKLOCKTIMEVERIFY after the timeout if the seller does not claim the funds.)

Quantum Quibbles!

Now if you were really paying attention, you might have noticed this parenthetical:
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)
So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable??
Well, in theory yes. In practice, they probably are not.
It's not that hashes can be broken by quantum computes --- they're still not. Instead, you have to look at how you spend from a P2WPKH/P2PKH pay-to-public-key-hash.
When you spend from a P2PKH / P2WPKH, you have to reveal the public key. Then Bitcoin hashes it and checks if this matches with the public-key-hash, and only then actually validates the signature for that public key.
So an unconfirmed transaction, floating in the mempools of nodes globally, will show, in plain sight for everyone to see, your public key.
(public keys should be public, that's why they're called public keys, LOL)
And if quantum computers are fast enough to be of concern, then they are probably fast enough that, in the several minutes to several hours from broadcast to confirmation, they have already cracked the public key that is openly broadcast with your transaction. The owner of the quantum computer can now replace your unconfirmed transaction with one that pays the funds to itself. Even if you did not opt-in RBF, miners are still incentivized to support RBF on RBF-disabled transactions.
So the extra hash is not as significant a protection against quantum computers as you might think. Instead, the extra hash-and-compare needed is just extra validation effort.
Further, if you have ever, in the past, spent from the address, then there exists already a transaction indelibly stored on the blockchain, openly displaying the public key from which quantum computers can derive the private key. So those are still vulnerable to quantum computers.
For the most part, the cryptographers behind Taproot (and Bitcoin Core) are of the opinion that quantum computers capable of cracking Bitcoin pubkeys are unlikely to appear within a decade or two.
So:
For now, the homomorphic and linear properties of elliptic curve cryptography provide a lot of benefits --- particularly the linearity property is what enables Scriptless Script and simple multisignature (i.e. multisignatures that are just 1 signature onchain). So it might be a good idea to take advantage of them now while we are still fairly safe against quantum computers. It seems likely that quantum-safe signature schemes are nonlinear (thus losing these advantages).

Summary

I Wanna Be The Taprooter!

So, do you want to help activate Taproot? Here's what you, mister sovereign Bitcoin HODLer, can do!

But I Hate Taproot!!

That's fine!

Discussions About Taproot Activation

submitted by almkglor to Bitcoin [link] [comments]

Is it possible to make a bitcoin wallet that absolutely requires you to physically plug in a device into your computer before it will allow any transfer of those funds from your wallet?

I am weary of keeping my BTC on my computer because I simply do not trust that I will not get a virus or malware that can end up stealing them. I see this as a huge problem for mass adoption since no one wants their money stolen from them and this seems all too easy for the average person to get compromised. Is it possible to require some sort of secure physical device connected to your computer before the wallet will allow transfer of the bitcoins or would it be easily thwarted by an intelligent hacker?
submitted by DrinkHotWater to Bitcoin [link] [comments]

As more Bitcoin goes into circulation from the 21 million Bitcoin limit mining requires more computing power? /r/Bitcoin

As more Bitcoin goes into circulation from the 21 million Bitcoin limit mining requires more computing power? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

So what would happen to bitcoin or crypto if there was a revolution in computing power? A key tenant of bitcoin is that it requires exponentially more difficult problems in order to mine, but what happens if we outpace what was meant to hold us back? Quantum computing pops into mind as an /r/Bitcoin

So what would happen to bitcoin or crypto if there was a revolution in computing power? A key tenant of bitcoin is that it requires exponentially more difficult problems in order to mine, but what happens if we outpace what was meant to hold us back? Quantum computing pops into mind as an /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

046 ICO Initial Coin Offering BITCOIN MINING trailer How to buy Bitcoin for Beginners How to Mine Bitcoins Using Your Own Computer Bitcoin System Review 2020, Scam or Legit Trading Robot ...

Bitcoin/Cryptocurrency An Introduction and the Related Tax Consequences of Buying, Holding, and Selling requirements for virtual currency. As of date, the IRS has not • Node – A computer in a peer-to-peer blockchain network. • Peer-to-peer network – A computer network that Individuals, businesses, developers: learn from our simple Bitcoin guides. How Bitcoin works, what is Bitcoin, what is blockchain, how to buy Bitcoin, what is Bitcoin mining and more. What are the minimum hardware requirements for mining in a bitcoin pool? Note that I'm not looking for profitability, this has been answered numerous times. I'm more into setting up an old computer to learn how things work. Bitcoin Core can be run on an always-offline computer, creating an offline wallet (also called a cold wallet). The offline wallet will securely store the private keys, while a separate online Bitcoin Core wallet will send and receive transactions. Learn more: Creating and signing offline transactions Part 1: Hardware Requirements. If you don’t want to invest any money in hardware and simply want to use your current computer to start mining, you can skip ahead to Part 2: When you are mining, the same values that apply for Bitcoin mining will apply to any SHA-256 coin mining. The same is true for Litecoin and all other Scrypt based

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046 ICO Initial Coin Offering

We have created the Bitcoin 101 videos for you to gain insight into a fairer financial system. Explore the countless reasons why you should start using Bitco... Requirements Passion for learning about Blockchain Basic computer knowledge and skills Passion for learning about Cryptocurrencies Passion for learning about Bitcoin and other Cryptocurrencies ... Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a ... Requirements Passion for learning about Blockchain Basic computer knowledge and skills Passion for learning about Cryptocurrencies Passion for learning about Bitcoin and other Cryptocurrencies ... Bitcoin System Review 2020. Is Bitcoin System scam or legit app? Bitcoin System is one of the best and profitable trading app we have recently reviewed.

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