More on Making a Living Off of Bitcoin

[Angela Easterby]

<br> What can you do with Binance Coin? The Binance pro trading tool will give you some bonus for any new member that you refer. Using Paxful to search for people nearby who will sell Bitcoins via an in-person meeting. Peter Todd suggested using an algorithm that provided roughly 99.9% protection against any typos, which he thought would be sufficiently strong, easy for people to use, and easy for people to memorize so that they didn’t need the extra Codex32 materials. Russell O’Connor replied that a full Codex32 recovery code can be checked much faster than full verification if the user is willing to accept less protection. Checking just two characters at a time would guarantee detection of any single-character mistake in a recovery code and provide 99.9% protection against other substitution errors. A particular advantage of Codex32 over existing schemes is the ability to verify the integrity of backups using just pen, paper, documentation, and a modest amount of time. If dividing the checksum by a known constant produced no remainder, it would verify the integrity of the backup within the parameters of the checksum algorith<br>p><br>p> ● Faster seed backup checksums: Peter Todd replied to the discussion about a draft BIP for Codex32 (see last week’s newsletter), a scheme that allows creating, verifying, and using recovery codes for a BIP32 seed. This week’s newsletter summarizes a discussion about the fastest way to verify that a BIP32 master seed backup probably hasn’t been corrupted without using any digital devices. This week’s newsletter includes action items related to the security release of Bitcoin Core 0.16.3 and Bitcoin Core 0.17RC4, the newly-proposed BIP322, and Optech’s upcoming Paris workshop; a link to the C-Lightning 0.6.1 release, more information about BIP322, and some details about the Bustapay proposal; plus brief descriptions of notable merges in popular Bitcoin infrastructure projects. This week’s newsletter describes a proposal to mitigate LN jamming attacks using reputation credential tokens. They create a set of trustless instructions that describes where each forwarding node should next relay the payment, encrypting those instructions so that each node receives only the minimum information it needs to do its job. In LN today, spenders choose a path from their node to the receiving node across multiple channels operated by independent forwarding nodes. Erlay is a two-part proposal that first limits the number of peers to which a node will directly advertise transactions (default: 8) and, second, uses set reconciliation based on libminisketch with the remainder of its peers to avoid sending the txid of any transactions that the receiving peer has alre<br>s<br>.
Riard proposes that each forwarding node should only accept the relay instructions if they include one or more credential tokens that were previously issued by that forwarding node. ● Previous success: if a payment that Alice sent through Bob’s node is successfully accepted by the ultimate receiver, Bob’s node can return a credential token to Alice’s node-or even more tokens than were previously used, allowing Alice’s node to send additional value through Bob’s node in the future. ● Upfront payments: if Alice’s node wants to forward payments through Bob’s node, her node first uses LN to buy a credential from Bob. The credentials include a blind signature that prevents the forwarding node from directly determining which node was issued the credential (preventing the forwarding node from learning the network identity of the spender). ● Reputation credentials proposal to mitigate LN jamming attacks: Antoine Riard posted to the Lightning-Dev mailing list a proposal for a new credential-based reputation system to help prevent attackers from temporarily blocking payment (HTLC) slots or value, linked internet site preventing honest users from being able to send payments-a problem called channel jamming attacks. Except for voluntary fee there are no extra charges of usin<br>i<br>ayment system.
If components of the system do not agree on a single equilibrium, the system will effectively split. We can do aggregation over all signatures in a single transaction. The money is then deposited into one or more bank accounts either by multiple people (smurfs) or by a single person over an extended period of time. If verifiers were willing to use a different lookup table each time they checked their code, each additional verification would increase their chance of detecting an error up until the seventh verification, where they would have the same assurance as they would receive from performing full Codex32 verification. Of all of the strategies discussed, scalping takes place across the smallest time frames. This is especially true for lightweight clients that don’t relay transactions for other peers, so any transaction sent from their IP address can easily be associated with their network identity. The btc Wallet is simply a free, open-source software program that will generate you<br>rst Bitcoin address.

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