How to make Bitcoin-Qt client portable? (Windows

Is there any software for mining bitcoins portable (just insert the file, run it and not installing) for linux? /r/BitcoinTechnology

Is there any software for mining bitcoins portable (just insert the file, run it and not installing) for linux? /BitcoinTechnology submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Core 0.20.0 portable

DOWNLOAD LINK: youfile.net/Bitcoin Core 0.20.0 portable

submitted by DifferentRip265 to u/DifferentRip265 [link] [comments]

DOWNLOAD LINK: megafile3.top/Bitcoin Core 0.20.0 portable

Bitcoin Core 0.20.0 portable
submitted by Party_Goal1 to u/Party_Goal1 [link] [comments]

Interesting excerpt from Paul Tudor Jones letter to investors after scoring Financial Assets, Fiat Cash, Gold, and Bitcoin based on 4 categories: purchasing power, trustworthiness, liquidity, and portability.

“What was surprising to me was not that Bitcoin came in last, but that it scored as high as it did. Bitcoin had an overall score nearly 60% of that of financial assets, but has a market cap that is 1/1200th of that. It scores 66% of gold as a store of value, but has a market cap that is 1/60th of gold’s outstanding value. Something appears wrong here and my guess is it is the price of Bitcoin.”
submitted by the420chronicler to Bitcoin [link] [comments]

Why I Sold My Bitcoin

Disclaimers:
I think it's important to share a contrarian view here, given the hype and euphoria over the last few days. I think I also have a some-what unique perspective on cryptos. Educated as an economist, I've spent a career in the technology departments of large banks. I've also taken the licensing exams to open my own investment manager, though I haven't launched one yet. I held some bitcoin as a speculation, but have exited on this rally because the mania is getting out of hand - even for a believer in the technology with high risk tolerances.
I'm not trying to be a downer or spread FUD - just provide a sobering reality check based on my understanding of investing and market structure. After all, it is extremely easy to lose sight of reality when you're sitting on fat paper profits. That type of complacency is an integral part of market cycles and one of the core weaknesses that professional traders exploit.
I do believe bitcoin is both something of tremendous value, and a bubble. History shows that bubbles form as society digests new forms of value - it happened as humans minted their first coins, their first paper currency, their first stocks and bonds, etc. Every new innovation in financial instruments is typically accompanied by some sort of bubble - the 2008 innovations in mortgage securities should be fresh and memorable for most.
The size and scale of the bitcoin bubble's inflation speaks about the underlying technology. It will, no doubt, be transformative across society - in many ways we cannot foresee now. However, that doesn't mean it has unlimited value, and "it'll go to the moon!" Or that it's even an investment. In fact, the hallmark of a bubble when people buy for fear of missing out on a price, without connecting that price to underlying economic activity. That's exactly what's happening here.
Why Bitcoin is NOT an Investment, and that's Okay
First, let's talk about what an investment is. By definition, an investment is an asset that yields a return above its purchase price.
If you invest in bonds or equities, you're usually looking at some kind of discounted cash-flow to decide whether to invest or not. Either your bond will pay a coupon of $X per year, or your company will generate $X amount of cash annually - and you project these values over time. Then you compare that to the return on less risky assets, like the US 10 year Treasury, and decide if the return is worth the risk.
But bitcoin doesn't yield anything. No matter what industries it disrupts or entrenched powers it destroys, it will never yield anything. If you own 1 BTC today, it's still 1 BTC in the future without any dividends, coupons, or splits. By definition, it cannot be an investment - there's no return. Non-yielding assets can never be an investment.
This is why bitcoin is a cryptocurrency. Crypto for the source of authority (proof-of-work or proof-of-stake), but currency for the asset's behavior. You don't invest in a currency, you can only speculate in it. You can buy a currency in order to buy investments denominated in that currency (eg. trading dollars for yen to buy Japanese Government Bonds), but the currency itself is never an investment.
Now, it's perfectly okay to buy another currency in expectation that it's price (against your 'native' currency) will rise. But that's just a trade, and one fueled by speculation. And some speculation is okay, it helps grease financial markets and discover 'real' prices. It's just important not to fool yourself, and to realize what you are doing. This also means no HODLing - every transaction has a lifecycle that ends in liquidation.
Some professionals make a living doing this, but typically they're not just speculating - they're helping institutions and companies intermediate between their 'native' currency and wherever they do business.
Are you Toyota selling a car in the US, trying to bring your dollars home as yen? A currency trader can help you. It's probably also probably worth noting here the recent settlements between the world's biggest banks and their regulators for openly fixing currency markets. The professionals tend to stay in business with a healthy dose of fraud and trading against their clients.
This is not behavior to emulate, and should give pause to anyone speculating in cryptocurrency. Who do you think you're trading against when you buy bitcoin from an exchange? There's a concept that everyone trading needs to know - the 'greater fool trade.' Are you buying because you have reasonable ideas about what the asset will return, or because there's a greater fool who will pay you more for it?
From what I've seen, and the yield on bitcoin, it seems like most people are betting there are greater fools out there.
'Hard Money' and Metcalfe's Law
These are common arguments I've seen posted here. A lot of people don't trust the Federal Reserve, or think of bitcoin as some technology that can be priced according to a model that describes the adoption of ethernet. Neither make a ton of sense in the light of day.
The bitcoin mining curve is modeled after gold, the original 'hard money'. By design, it's supposed to be deflationary. I'll admit I've never gotten along well with gold bugs and usually don't persuade them, but I'm happy to trade against them.
There's hundreds of year of economic history demonstrating that deflationary currencies are bad for economic growth. Where deflationary currencies have existed, they've been out-competed by mildly inflationary currencies. This is why they don't exist anymore, except for brief periods of severe economic stress. The idea that real economic activity can occur with a deflationary bitcoin is contrary to both experience and theory, which shows that 'real' economic activity slows as people anticipate further gains in currency value. The incentive is to hoard instead of spending or lending, so they don't, and economic activity falls.
Likewise, gold has been a bad inflation hedge, and there's no reason to expect bitcoin to do better. The last hundred years of data shows that even in inflationary periods, stocks have performed better than gold (inflation adjusted, anyone who bought gold at it's local maxima in 1980 at $650/oz would still be underwater at 2011's global maxima at $1,900/oz). And needless to say, stocks have yielded many-fold the return over gold in that time period by dividends alone.
If you're holding bitcoin because you don't trust the dollar or are worried about inflation, you should ask yourself why you don't also hold gold. It's the same logic. Then you should ask yourself why you would hold either.
As for Metcalfe's Law, this is a bit of a red herring. The idea is simple - networking effects produce exponentially more value as more people join the network. Champions of this idea point to fax machines, the internet, and Facebook - and publish interesting graphs showing the price of bitcoin neatly following Metcalfe's curve.
But we need to remember what we're examining - users of the network. If I register a Coinbase account to speculate on bitcoin, am I really using the bitcoin network? Is bitcoin's value proposition becoming more valuable intrinsically? Or is the price just increasing, because of the money flowing into it?
Twitter provides a good example. It's dominated by bots who are 'on the network', but provide marginal value and don't conform to Metcalfe's Law. It's taken a few years, but the price (what you pay) has caught up to the value (what it's worth), as the market has digested that many nodes in the network don't really count.
If the value proposition of bitcoin is in trustless transactions, how many of it's exponentially growing users are actually using bitcoin to perform trustless transactions? Transaction volumes are relatively flat year-on-year, while the number of new wallets have skyrocketed - so let's not fool ourselves about Metcalfe's Law. Correlation does not mean causation, and the network is not becoming more intrinsically valuable because more people are trying to speculate on bitcoin's price.
There IS some real growth here from adoption in jurisdictions where cryptos have been recognized as legal tender, but we can't fool ourselves about the impact there. Again, bitcoin is deflationary, and the incentives are hold instead of spend. If recognition and accessibility were really driving adoption, transaction volumes shouldn't be flat year-on-year.
But What About the MASSIVE DISRUPTION?
This is where bitcoin shines - it has tremendous disruptive potential. It allows counterparties to interact without trust or central authority, which removes the role for banks, money transfer agents, and other folks who would usually clip some part of a transaction. Open, distributed blockchains will revolutionize many industries and social institutions.
However, this doesn't go too far in helping bitcoin's value. An asset's value depends on the rights it bestows to the owner - just like above, where we could value a stock or bond by the rights to the cashflow it grants. But what does bitcoin grant the owner?
We come up short. Bitcoin is a token representing a proof-of-work for authenticating transactions on the network. All it grants to the owner is a high mathematical likelihood that the token is not fraudulent or double-spent. So what's that worth?
Depends on who you're transacting with. When we pay in dollars, there are systems in the background looking for fraud. These costs get spread across society in the fees we pay for credit cards (both in our interest charges, and the fees charged to merchants for accepting cards). If we don't need a card issuer and bank to back the transaction and guarantee that it's legitimate, there is substantial value that can be recaptured.
Likewise, bitcoin's portability can be a source of value. If you can send bitcoin across borders, there's no need for money transfer agents to send remittances. There's no need to be scammed by a cabal of currency traders. This is all value that can be recaptured as old, expensive institutions become irrelevant.
However - is that value recaptured by the owner of the bitcoin? Or is it captured by the nodes on the network authenticating the transaction?
Bitcoin would substantially reduce the fee for sending money, but the actual fee would go to the miners - not the holder of bitcoin tokens. Holders of bitcoin would see no direct benefit.
Now - it's reasonable to think, "if bitcoin replaces those institutions, that's trillions of dollars that will have to flow into bitcoin, and the price will skyrocket!". And there's some truth to that. Based on money flow and bitcoin's illiquidity, it will have to rise. But it's not realistic that things will happen that way, as it embeds some bad assumptions:
The first two points are fairly straightforward. Even if bitcoin replaces existing institutions, it's important to consider how and when - and whether the market price for bitcoin today is being too optimistic and forward-looking. Likewise, bitcoin is not the only game in town, and other cryptos already have value propositions that can out-compete in certain niches. All the big banks are already working on their own blockchains, which aren't as revolutionary as bitcoin, but will likely be easier for mass consumer adoption.
The last bullet point is the real rub. Bitcoin is deflationary, and a main purpose of banks is to create leverage throughout the monetary system. $1 deposited in a bank can become $5 throughout the whole system, and extended further with clever credit structures and derivatives. Because bitcoin is deflationary, that kind of leverage (and face amount of fiat) cannot be lifted-and-shifted into bitcoin. No one would lend, except at interest rates high enough to contract the money supply. Several trillion dollars in the banking system today would shrink by orders of magnitude in a bitcoin economy. The initial inflows would create a spike in the dollar value of bitcoin, but economic activity would grind to a halt shortly after.
This is why the really smart folks like Andreas Antonopolous comment far more on what the technology can do than what the token is worth. It's why he's testified to the Canadian Senate that we will see many different 'monetary recipes' across different cryptos, and the future is wide open for any mix of them to dominate. It's why he talks about the bitcoin protocol as a base layer, which may be abstracted from any future end-use and doesn't speculate on the price.
If you're sitting on a big profit, maybe it's time to re-examine exactly why you think there's substantial value ahead. And if you're buying in at these levels, you should be asking yourself why it's worth paying ~$10k. As prices go up, the risks get bigger - not smaller. The rate of advance means there are a lot of people who have bought in the last three months, and could quickly leave if they see a big profit turn to a loss. Anytime a market moves like this is a time for greater caution, not greater greed.
** TL/DR ** There's a lot of enthusiasm, backed by naive and childish arguments, saying that bitcoin should keep advancing at a rapid clip. But there are still serious impediments, and even success of bitcoin (the technology) doesn't mean the tokens are worth anywhere near where they trade today. Everyone should be taking this rally as an opportunity to reality check their assumptions, and figure out if they're long because they're bullish - or if they're bullish because they're long. You can still love bitcoin without the hype.
submitted by The_Scho_Empire to Bitcoin [link] [comments]

Winklevoss Twins: Bitcoin is a better version of gold, which means that apart from being limited in supply, it is better at fungibility, portability and divisibility than gold itself

Winklevoss Twins: Bitcoin is a better version of gold, which means that apart from being limited in supply, it is better at fungibility, portability and divisibility than gold itself submitted by himadri-saha to Bitcoin [link] [comments]

Bitcoin Is Much Better Than Gold – Unseizable and Extremely Portable

Bitcoin Is Much Better Than Gold – Unseizable and Extremely Portable submitted by CryptoCrunchApp to CryptoCrunchApp [link] [comments]

portable SRBMINer 2019 new Bitcoin Sh!t FWm

submitted by levexworld to Bitcoinhacks [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]

Portable Bitcoin Full Nodes (based on Raspberry Pi Zero W)

Portable Bitcoin Full Nodes (based on Raspberry Pi Zero W)
Maybe of interest to some of the crypto enthusiasts out there. :)
Small in size, with a big sdcard, and fully synced chain.

https://actinium.store/product/portable-bitcoin-node/

Cheers,

https://preview.redd.it/iwr1pk2w9eg21.jpg?width=2016&format=pjpg&auto=webp&s=6f9b3b78b9026c6771a9845fbd4e65790e603839
submitted by brakmic to Bitcoin [link] [comments]

Bitcoin SV portable full node

Bitcoin SV portable full node submitted by dondreyt to bitcoinsv [link] [comments]

Affordable Bitcoin Full Nodes - desktop & portable

Affordable Bitcoin Full Nodes - desktop & portable
We offer desktop & portable Bitcoin Full Nodes based on Raspberry Pi, including 400GB sdxc cards, power banks, UK/US/EU power adapters, HDMI cables, and CPU coolers.
The nodes contain fully synchronized blockchains.
Visit us at: https://actinium.store
Bitcoin Full Nodes
submitted by brakmic to Bitcoin [link] [comments]

Portable full node for Bitcoin Cash

submitted by dondreyt to btc [link] [comments]

Let's make Bitcoin Cash the Best Money there is! Fungible. Durable. Divisible. Portable. Acceptable. Uniform. Limited in Supply.

Let's make Bitcoin Cash the Best Money there is! Fungible. Durable. Divisible. Portable. Acceptable. Uniform. Limited in Supply. submitted by Windowly to btc [link] [comments]

A Scramble for Gold.... The incredibly costly and complex logistics of physically moving gold mentioned in this article (ex: chartering private planes to move bullion) point to the advantages of Bitcoin among truly scarce and valuable assets.

A Scramble for Gold.... The incredibly costly and complex logistics of physically moving gold mentioned in this article (ex: chartering private planes to move bullion) point to the advantages of Bitcoin among truly scarce and valuable assets. submitted by sunkist5 to Bitcoin [link] [comments]

Can anyone help me find an explanation on why Bitcoin is important

I read an explanation a few months ago that described the evolution of messaging, going from posting letters, to email, to texting and then the instant messaging and how it created a whole new style of communicating with one another and how this could be how spending goes. Can anyone find that for me as it was really interesting and well written, and I would like to share it with a friend.
Thanks
submitted by ThePutinTrumpSexTape to Bitcoin [link] [comments]

[ Bitcoin ] Technical: Taproot: Why Activate?

Topic originally posted in Bitcoin by almkglor [link]
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 private 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

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Portable Bitcoin Full Nodes (based on Raspberry Pi Zero W)

Portable Bitcoin Full Nodes (based on Raspberry Pi Zero W)
Maybe of interest to some of the crypto enthusiasts out there. :)

Small in size, with a big sdcard, and fully synced chain.

https://actinium.store/product/portable-bitcoin-node/

Node + Powerbank

Cheers,
submitted by brakmic to CryptoCurrency [link] [comments]

Mass adoption is an uphill battle.

• Bitcoin Is decentralized (World-wide & borderless). • Bitcoin is a trust-less system because it is open source and is verified every 10 minutes. • Bitcoin is the most secure data base ever to exist. • 160 countries worth of spent energy secures the Blockchain. • Bitcoin has all the features of sound money. - it’s portable, divisible, fungible, scarce and desirable • Bitcoin is the knowledge of money. It’s give people the ability to hold value with knowledge. (Be your own bank). • Bitcoin is peer to peer. • Bitcoin is mathematically set up to make itself virtually transparent and see through. • Bitcoin has max supply of 21 million • Bitcoin isn’t racist, radical, or prejudice • Bitcoin is People’s money • Bitcoin asks no questions • Bitcoin is deflationary • The only way to manipulate the amount of bitcoins in this world is to throw them away.
A list of moronic things I’ve heard
• Morons think bitcoin is a scam • Morons complain about not being able to get money back after they send it. • Morons need reversible money • Morons think someone will double their money. • Morons need trust
(My 2 cents)
I really can not believe how blind people can be. The real reason bitcoin hasn’t seen mass adoption yet is because the majority of people don’t like change. The only thing we can count on in this life is change. The people who don’t operate knowing this are not the brightest. Bitcoin is smart money. It’s for smart people.
submitted by kaz2727 to Bitcoin [link] [comments]

[Altcoin Discussion] Wednesday, May 20, 2020

Thread topics include, but are not limited to:
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If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.
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Blockstream Satellite makes it easy for anyone in the world to use Bitcoin. You only need is a portable generator, sat dish, wifi hotspot, fullnode laptop & some means to send 250Bytes 😂😂😂😂

Blockstream Satellite makes it easy for anyone in the world to use Bitcoin. You only need is a portable generator, sat dish, wifi hotspot, fullnode laptop & some means to send 250Bytes 😂😂😂😂 submitted by increaseblocks to btc [link] [comments]

Winklevoss Twins: Bitcoin is a better version of gold, which means that apart from being limited in supply, it is better at fungibility, portability and divisibility than gold itself

Winklevoss Twins: Bitcoin is a better version of gold, which means that apart from being limited in supply, it is better at fungibility, portability and divisibility than gold itself submitted by cryptoanalyticabot to cryptoall [link] [comments]

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