Topic: If you were to recreate Bitcoin to be better and more secure. How would you? - page 2. (Read 2400 times)
May 02, 2015, 09:40:38 PM
I did not fully understand the features and systems of cryptocoin, but I hope that bitcoin will be safer from the actions of hackers
May 02, 2015, 05:18:29 PM
What kind of question is this? Bitcoin is the definition of perfection. 
LOLOLOL
LOLOLOL 
May 02, 2015, 03:05:52 PM
Still waiting for a time when whole wallets can be encrypted is such a way that they can be transferred to another person, and the first person will not be able to use any of the addresses therein, and the second person will have control of the addresses to use as his. In addition, nobody else will be able to transfer a wallet he happens to find, unless he has the right PGP address for that wallet.
When this happens, Bitcoin will be deemed so strong and anonymous that investors will flock to mining.
Authorities will realize that they don't have any control anymore, so they will start shutting the big mining operations down. After this is done, they will start going door-to-door after all the bitcoins they can arrest people for holding.
Sounds like a good recipe for civil war 2.0. When this happens, Bitcoin will be deemed so strong and anonymous that investors will flock to mining.
Authorities will realize that they don't have any control anymore, so they will start shutting the big mining operations down. After this is done, they will start going door-to-door after all the bitcoins they can arrest people for holding.
May 01, 2015, 03:09:07 PM
Still waiting for a time when whole wallets can be encrypted is such a way that they can be transferred to another person, and the first person will not be able to use any of the addresses therein, and the second person will have control of the addresses to use as his. In addition, nobody else will be able to transfer a wallet he happens to find, unless he has the right PGP address for that wallet.
When this happens, Bitcoin will be deemed so strong and anonymous that investors will flock to mining.
Authorities will realize that they don't have any control anymore, so they will start shutting the big mining operations down. After this is done, they will start going door-to-door after all the bitcoins they can arrest people for holding.
When this happens, Bitcoin will be deemed so strong and anonymous that investors will flock to mining.
Authorities will realize that they don't have any control anymore, so they will start shutting the big mining operations down. After this is done, they will start going door-to-door after all the bitcoins they can arrest people for holding.
May 01, 2015, 02:13:11 PM
If you were to recreate Bitcoin to be better and more secure. How would you?
Bitcoin has perfect security and I would change nothing. Everything we need can and will be built on top of the protocol foundation layer we call "the blockchain"/Bitcoin.Have there been any talk about fixing the 51% issue? Or what are your thoughts on this.?
the real issue with 51% isn't that big as many think, because no one in his right mind would spend a ton in mining equipment just to do a 51'ed to the network, it would be better for him to secure it in this case....
also if you take into account that the bitoin price is ridiculously low ,it is even stupid to do such a thing
May 01, 2015, 01:48:03 PM
I would use more secure encryption algorithms like aes-256 for example to make transactions hashes more secure. I would also eliminate the 51% attack possibility and make block size bigger.
May 01, 2015, 09:29:13 AM
Have there been any talk about fixing the 51% issue? Or what are your thoughts on this.?
The hashrate distribution has been evolving in a healthy direction for quite awhile. As of this post no pool has more than 20% hashing share. I believe this trend will continue. April 30, 2015, 08:25:33 PM
If you were to recreate Bitcoin to be better and more secure. How would you?
Bitcoin has perfect security and I would change nothing. Everything we need can and will be built on top of the protocol foundation layer we call "the blockchain"/Bitcoin.Have there been any talk about fixing the 51% issue? Or what are your thoughts on this.?
April 30, 2015, 08:24:48 PM
So far the only implimentation of asic proof I have seen is with CureCoin using protein folding as mining. Do you have any other ideas on how to do this?
Why is protein folding ASIC-resistant?
Protein folding require heavy rendering from cpu and gpu's. So some really big super computer's atm are the closest thing to an asic for it.
That doesn't seem to answer my question. Anything a CPU or GPU does, an ASIC can do it better (provided the correct algorithm for the task, of course).
April 30, 2015, 08:07:47 PM
If you were to recreate Bitcoin to be better and more secure. How would you?
Bitcoin has perfect security and I would change nothing. Everything we need can and will be built on top of the protocol foundation layer we call "the blockchain"/Bitcoin. April 30, 2015, 07:50:47 PM
If there was a way to develop Bitcoin with QT built in 2FA option sending a text code to withdrawal funds but only if phone numbers could be stored decentrally.
This would make a great addition.
Eliminate the possibility of a 51% attack...
how?this is something that may work well for now, is an idea about a code to be added just in case
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
http://gavintech.blogspot.it/2012/05/neutralizing-51-attack.html
Couldn't they just get around that by doing their own high priority transactions?
it will be a war in the end, to who will connect to more nodes, like satoshi said about transaction confirmation
This is the truth. =/
So you are looking for ideas to create ANOTHER shitcoin ... ?
No there are plenty of those. I am attempting to create a proposal for the BTC foundation. It wouldnt be for a few years, but time will tell that btc is not perfect and things need to change. Just trying to think about it early.
Eliminate the possibility of a 51% attack...
how?this is something that may work well for now, is an idea about a code to be added just in case
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
http://gavintech.blogspot.it/2012/05/neutralizing-51-attack.html
Very interesting. =p thank you
Slower halvings, so the extreme early adopters would not have such huge advantage, like happened with BTC
Would you mind explaining how this would help?
I think it's pretty difficult to make Bitcoin really "more secure" in any way. The core principles remain intact, still. There hasn't been a single occurrence of the Bitcoin core principles failing or allowing a fraudulent transaction. Making Wallets and computer systems safer is a whole other story, and I don't think that changes to Bitcoin can do anything to tackle those problems, unfortunately...
The only thing I have seen and it has occured over 17 times. is gigahash.io getting over the 51% mark and holding for an amount of time.
So far the only implimentation of asic proof I have seen is with CureCoin using protein folding as mining. Do you have any other ideas on how to do this?
Why is protein folding ASIC-resistant?
Protein folding require heavy rendering from cpu and gpu's. So some really big super computer's atm are the closest thing to an asic for it.
April 29, 2015, 03:48:09 PM
Make it fully anonymous, possibly like Dogecoin.
April 29, 2015, 01:58:56 PM
Eliminate the possibility of a 51% attack...
how?this is something that may work well for now, is an idea about a code to be added just in case
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
http://gavintech.blogspot.it/2012/05/neutralizing-51-attack.html
Couldn't they just get around that by doing their own high priority transactions?
it will be a war in the end, to who will connect to more nodes, like satoshi said about transaction confirmation
April 29, 2015, 01:58:09 PM
I think Bitcoin is really well thought out, and changing things as the halving rate wouldn't make it better or more secure in any way... I'd just leave it as it is
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April 29, 2015, 01:48:49 PM
Eliminate the possibility of a 51% attack...
how?this is something that may work well for now, is an idea about a code to be added just in case
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
http://gavintech.blogspot.it/2012/05/neutralizing-51-attack.html
Couldn't they just get around that by doing their own high priority transactions?
April 29, 2015, 02:25:30 AM
Eliminate the possibility of a 51% attack...
how?this is something that may work well for now, is an idea about a code to be added just in case
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
http://gavintech.blogspot.it/2012/05/neutralizing-51-attack.html
April 28, 2015, 09:12:26 PM
Slower halvings, so the extreme early adopters would not have such huge advantage, like happened with BTC
April 28, 2015, 08:09:46 PM
I think it's pretty difficult to make Bitcoin really "more secure" in any way. The core principles remain intact, still. There hasn't been a single occurrence of the Bitcoin core principles failing or allowing a fraudulent transaction. Making Wallets and computer systems safer is a whole other story, and I don't think that changes to Bitcoin can do anything to tackle those problems, unfortunately...
April 28, 2015, 08:07:51 PM
So far the only implimentation of asic proof I have seen is with CureCoin using protein folding as mining. Do you have any other ideas on how to do this?
Why is protein folding ASIC-resistant?
April 28, 2015, 07:40:32 PM
Reward halving to be only 1/3 or 1/4, that will not change the limited total supply but smooth out the distribution phase. Current reward halving scheme is just too steep that causes large appreciation expectation in general
Would you mind going into more detail with this? Are you thinking of a 2 year approach like litecoin is doing?
Hey BitCoin enthusiasts, I am trying to figure out if it is possible or if people even want a better BTC. If so how would you go about doing this.
I am not sure it is possible. I would want to make bitcoin ASIC proof, so mining could be more distributed.
So far the only implimentation of asic proof I have seen is with CureCoin using protein folding as mining. Do you have any other ideas on how to do this?
Eliminate the possibility of a 51% attack...
There have been many ways implemented to solve this one include POS minting. What do you think is best?
Cryptonote
AFAIK, Cryptonote cleans the old transactions, which is not good to keep evidence. Probably good for anonymity though...
Some financial investments require old transactions for proof of transaction. How would you propose to make anonymity and visible users happy in this case?
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