sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja
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<r0ach>
I have a theory that you don't understand Bitcoin unless you can define it in one sentence
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<r0ach>
After years, I can finally do so:
<r0ach>
"The purpose of mining is to create a permanent two way peg, decentralized exchange, which thus results in a permissionless system."
<bsm1175321>
In the Bitcoin space, I find myself filling a niche where I'm doing network and data analysis, and while that post gives me pause, I'm convinced of the wisdom and attention to detail of they cryptographers in the Bitcoin space (especially the libsecp256k1 authors). So I'm not so motivated to dig deeply into the curves and algorithmic comparisons. (and I hope I never will be)
<bsm1175321>
Speaking of which, I'd love to see a speed comparison of ed25519 and libsecp256k1...anyone know of one?
<bsm1175321>
gmaxwell claims ed25519 is not faster than libsecp256k1. But I'd love to see numbers.
* bsm1175321
invites others to ##crypto to debate the security of the two curves. I know not the answer.
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* bsm1175321
fails in ##crypto
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<MRL-Relay>
{-shen} that was an entertaining read
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<bsm1175321>
@shen, indeed, what was your favorite part?
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<MRL-Relay>
{-shen} in bold "I did not know that BitCoin is using secp256k1.
<MRL-Relay>
{-shen} I am surprised to see anybody use secp256k1 instead of secp256r1. " lol
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<MRL-Relay>
{-shen} (in the linked article)
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<bsm1175321>
I really feel for the NSA. It's so hard to hide your crypto-key in the parameters of other people's crypto algorithms.
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<MRL-Relay>
{-shen} * facepalm
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<Taek>
so, was talking to some people about lightning, and a bottleneck issue came up
<Taek>
if you have 2 weeks (or whatever time period) to settle, there's the potential risk that some major counterparty breakdown will require a bunch of people to settle simultaneously
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<Taek>
potentially, more settlements needed than there are available transactions
<Taek>
therefore, fraud would succeed against at least some of them
<Taek>
to avoid this, I was thinking that you could destroy bitcoins to temporarily increase the blocksize
<Taek>
e.g. 25btc destroyed to increase the blocksize by 1mb for 1 block
<Taek>
this gives you an unsustainably expensive way to temporarily increase the block size
<Taek>
no miner would ever do it, and users would only do it if there was an emergency reason to get a ton of transactions though
<Taek>
*through
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<Luke-Jr>
Taek: typically the idea is to freeze maturity periods during full blocks
<Taek>
aren't we more or less expecting blocks to always be full?
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<rusty>
Luke-Jr: yeah, that's why it
<rusty>
Taek: yeah, that's why it's "idea" not "proposal".
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<rusty>
Taek: Though it's a but more subtle. It's not clear you want to immediately drop to blockchain, as failure may be transient. So it might not be such a rush...
<Taek>
rusty: as long as there's no failure mode where you can guarantee that there's not (in the short term) enough space for everyone to settle, it's not a huge worry for me
<Taek>
and, though I don't understand all the implementation details, at a high level that doesn't really seem like a difficult guarantee to provide
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<CryptoAi>
Hello all. We are CryptoAi, a machine learning centered systematic hedge fund. We’re currently seeking new partners with expertise in: Trading systems and Feature engineering(custom indicator design). If interested please view our recruitment doc
<buZz>
you've been hunting for souls to absord for over a year now?
<buZz>
still havent found anyone?
<CryptoAi>
buZz: We found a system architect, we're now looking for additional personnel
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<fluffypony>
CryptoAi: have you considered asking Tay?
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<stevenroose>
Reading the blog post from Cloud Flare where they propose proof of work for Tor browsers, I'm thinking about the idea of a standardised PoW HTTP extension
<stevenroose>
Users could use a browser extension, regardless of using Tor or a regular browser and avoid getting CAPTCHA's by adding a PoW to all their HTTP requests
<stevenroose>
It would be Hashcash for HTTP
<stevenroose>
say, HashcashTTP :p
<stevenroose>
Sort of what hashcash.io does, but standardised on application layer level
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<jannes>
Or just include a Lightning transaction in every HTTP header.
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<instagibbs>
yep
<instagibbs>
a dynamic refundable amount even
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<maaku>
Taek what you describe is flex cap
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<stevenroose>
jannes, thats really to much overhead
<stevenroose>
For one, you dont want your browser to be your wallet
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<stevenroose>
Plus, how about anonymity if you send transactions along all your browsing requests
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<instagibbs>
stevenroose, probably a basic knowledge fail on my part, but are you required to reveal the source in lightning? Pretty sure onion routing allows you to hide it.
<stevenroose>
instagibbs, as far as I know, sender and receiver first communicate in order to agree on payment details
<stevenroose>
I'm not sure, but I thought they actually exchanged the payment route as well
<kanzure>
original payment detail agreement is out-of-band, of course
<instagibbs>
thought it was just random payment details plus R value, maybe not
<instagibbs>
err H value
<instagibbs>
whatever
<kanzure>
did we seriously end up with single-letter variable names? that's infuriating.
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<maaku>
instagibbs: you are correct. onion routing would obscure the source. however lightning network might not be very good for anonymity...
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