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Dustin D. Trammell
Dustin D. Trammell
Dustin D. Trammell
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http://www.publictimestamp.org/
By the way, I'm also currently running the alpha code on one of my
workstations. So far it has two "Generated" messages, however the
"Credit" field for those is 0.00 and the balance hasn't changed. Is
this due to the age/maturity requirement for a coin to be valid?
Cheers,
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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> I'm currently reading through your paper. At the timestamp server
> section you mention newspapers and usenet, so I thought you might
be
> interested in this if you have not seen it already:
>
> http://www.publictimestamp.org/
Right, the credit field stays 0.00 until it matures, then it'll be
50.00. Do you think it would be clearer if I left the credit
field blank until it matures? I should put some text in the
transaction details (when you double click on it) explaining how
it works. (was it obvious you can doubleclick on a line for
details?)
Satoshi
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http://groups.google.com/group/proof-hashes
> Right, the credit field stays 0.00 until it matures, then it'll be
> 50.00. Do you think it would be clearer if I left the credit
> field blank until it matures? I should put some text in the
> transaction details (when you double click on it) explaining how
> it works. (was it obvious you can doubleclick on a line for
> details?)
No, I think having $0.00 there is more appropriate than being blank.
The entries in my BitCoin software (4 of them now) all say
'unconfirmed'
however, so I'm not sure what that means, but I did grok that the
coins
were generated and just not 'mature' yet, but I had also read your
whitepaper so I may have understood that concept from there. When
the
coins mature, will that generate a new 'credit' transaction, or will
the
existing generation transaction line's credit field be updated?
No, I was unaware that you could double-click a transaction line for
further details... I just did that and it currently just has the
same
information there that is in the transaction line. Putting more
information there would definitely be useful.
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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Thanks,
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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One other question I had... What prevents the single node with the
most
CPU power from generating and retaining the majority of the
BitCoins?
If every node is working independently of all others, if one is
significantly more powerful than the others, isn't it probable that
this
node will reach the proper conclusion before other nodes? An
underpowered node may get lucky once in a while, but if they are at
a
significant horsepower advantage I would expect the majority of
BitCoins
to be generated by the most powerful node.
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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Sweet, I was looking for a group like that on Usenet at one point to
see
what I would use if I needed, and nothing really fit. I'm sure
Google
groups is a lot easier to post to.
> Electronic currency and cryptography are two things that I am very
> interested in so as you would assume I was drawn to this project
> immediately when I saw it posted to the Cryptography email list.
Feel
> free to ping me for feedback or to test out new features, I'll be
happy
> to help out.
You know, I think there were a lot more people interested in the
90's,
but after more than a decade of failed Trusted Third Party based
systems
(Digicash, etc), they see it as a lost cause. I hope they can make
the
distinction, that this is the first time I know of that we're trying
a
non-trust based system.
You're right, sorry about that. It's the bug that was fixed in
0.1.3.
The communications thread would get blocked, so you would make
connections, but they would go silent after a while. When you found
a
block, you couldn't broadcast it to the network, so it didn't get
into
the chain. You weren't receiving anything either to know that the
network had gone on without you, until you restarted it.
This is all fixed in 0.1.3. If you give me your IP, I'll send you
some
coins.
> One other question I had... What prevents the single node with the
most
> CPU power from generating and retaining the majority of the
BitCoins?
> If every node is working independently of all others, if one is
> significantly more powerful than the others, isn't it probable
that this
> node will reach the proper conclusion before other nodes? An
> underpowered node may get lucky once in a while, but if they are
at a
> significant horsepower advantage I would expect the majority of
BitCoins
> to be generated by the most powerful node.
It's not like a race where if one car is twice as fast, it'll always
win. It's an SHA-256 that takes less than a microsecond, and each
guess
has an independent chance of success. Each computer's chance of
finding
a hash collision is linearly proportional to it's CPU power. A
computer
that's half as fast would get half as many coins.
Let me know how it goes. If you have any trouble with it, send me
your
debug.log file. I can often figure out what went wrong just from
that.
Satoshi
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> There are some scenarios where a Usenet or Google group could be
used as
> a supplemental defence. Bitcoin is at its most vulnerable in the
> beginning when the total network CPU power is small. That's
offset by
> the fact that the incentive to attack it is also low when it's
small.
> Hopefully the easy solution of just growing up and getting past
that
> stage will work. If not, there are ways a Google group could
help, if
> it really came to that.
Yea, I was thinking you could have a client post the current block
chain
every 10k blocks or something, just to occasionally document the
current
winning proof-of-work chain.
Indeed.
> You know, I think there were a lot more people interested in the
90's,
> but after more than a decade of failed Trusted Third Party based
systems
> (Digicash, etc), they see it as a lost cause. I hope they can
make the
> distinction, that this is the first time I know of that we're
trying a
> non-trust based system.=20
Yea, that was the primary feature that caught my eye. The real
trick
will be to get people to actually value the BitCoins so that they
become
currency. Currently, they're just collections of bits...
> This is all fixed in 0.1.3. If you give me your IP, I'll send you
some
> coins.
> It's not like a race where if one car is twice as fast, it'll
always
> win. It's an SHA-256 that takes less than a microsecond, and each
guess
> has an independent chance of success. Each computer's chance of
finding
> a hash collision is linearly proportional to it's CPU power. A
computer
> that's half as fast would get half as many coins.
> Let me know how it goes. If you have any trouble with it, send me
your
> debug.log file. I can often figure out what went wrong just from
that.
Will do...
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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> I've had that address for a while though so hopefully my dhcp
> client is being successful at renewing and not losing my address.
> It does change from time to time, but that address should be good
> for a while.
There's at least one node who's inbound IP keeps changing all the
time within the same class B. Maybe every time the program is
run. I wasn't expecting that.
Do you mind if I CC the rest of this to bitcoin-list or
Cryptography?
Even if it doesn't take off straight away, it's now available for
use by the next guy who comes up with a plan that needs some kind
of token or electronic currency. It could get started in a closed
system or narrow niche like reward points, donation tokens,
currency for a game or micropayments for adult sites. Once it
gets bootstrapped, there are so many applications if you could
effortlessly pay a few cents to a website as easily as dropping
coins in a vending machine.
Satoshi
For now, it's pretty obvious that if you send to an IP, you didn't
give any other identifying information about the recipient, so
you're blindly sending to whoever answers that IP.
> If I understand how that is done correctly, you just compute the
> transaction into the block chain and let the intended recipient
> 'discover' it, correct?
That's correct.
It would be nice to only need the Bitcoin address and have the IP
worked out behind the scenes. Might have privacy or denial of
service issues. Certainly before another sending method is
implemented, there's plenty of time now to fully think through the
design and make sure it's the best way.
Satoshi
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True, but the upside to using the BitCoin address is that two people
can
communicate via a number of different channels to verify the
address.
If my friend gets my address off my website, and thinks something
fishy
is going on, he can call me, or IM me, or email me, etc. to verify
the
address. An attacker would then have to basically be replacing my
address with the malicious one in every possible communications
channel,
including voice, which is a difficult feat. MITMing the direct
communication via network addresses doesn't have that benefit
because
the attacker is spoofing the address or intercepting. My friend can
verify what my address is with me in the same ways, however
verifying
the address doesn't actually improve the situation.
> One solution would be to use both the IP and Bitcoin addresses
> when sending (maybe 1.2.3.4-1Kn8iojk...), where the recipient uses
> the public key of the Bitcoin address to sign the new public key
> to prove that you're sending to who you think you are. If the
> system starts to be used for real business purposes, I will
> certainly implement that. Another solution is to use SSL.
One thing that came to mind on this topic is the potential for
BitCoin
loss if you have a system failure. The application doesn't seem to
store any data in the directory that it runs in, so I assume it's
stored
in the registry and other places (haven't cracked out
ProcessExplorer
yet to check myself), so it may be a good idea to have the
application
be able to export everything that it needs for recovery to a file
that
could be backed up off of the system.
=20
> It would be nice to only need the Bitcoin address and have the IP
> worked out behind the scenes. Might have privacy or denial of
> service issues. Certainly before another sending method is
> implemented, there's plenty of time now to fully think through the
> design and make sure it's the best way.
You could always make that optional, such as a toggle that says
'Advertise my BitCoin address to the network' that the user could
turn
on or off. If you're not found on the network when searched for by
BitCoin address, the transaction is inserted into the block-chain as
normal. If you are, the transaction meta-data could be communicated
to
the network address.
One other thing I noticed today is that if you close the application
it
doesn't appear to cleanly close it's network sockets (TCP RST's
start
flying). Probably an item for the low-priority todo list (:
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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Sure, no problem.
Yes, I saw that message and was one of the other reasons I started
up a
node so quickly. My systems aren't doing much of anything else
while
idle, so why not create BitCoins? And if they're worth something
someday...? Bonus!
> Even if it doesn't take off straight away, it's now available for
> use by the next guy who comes up with a plan that needs some kind
> of token or electronic currency. It could get started in a closed
> system or narrow niche like reward points, donation tokens,
> currency for a game or micropayments for adult sites. Once it
> gets bootstrapped, there are so many applications if you could
> effortlessly pay a few cents to a website as easily as dropping
> coins in a vending machine.=20
I can see how various types of sites that have a need for
micropayments
could use them, however I also see an impedement to adoption if they
want to use an existing BitCoin peer group rather than a closed
system
since they would first have to generate enough coins to support what
they intend to do (or buy them from someone else). A closed system
obviously doesn't have that problem.
> It can already be used for pay-to-send e-mail. The send dialog is
> resizeable and you can enter as long of a message as you like.
> It's sent directly when it connects. The recipient doubleclicks
> on the transaction to see the full message. If someone famous is
> getting more e-mail than they can read, but would still like to
> have a way for fans to contact them, they could set up Bitcoin and
> give out the IP address on their website. "Send X bitcoins to my
> priority hotline at this IP and I'll read the message personally."
Interesting application (:
> Subscription sites that need some extra proof-of-work for their
> free trial so it doesn't cannibalize subscriptions could charge
> bitcoins for the trial.
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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Satoshi Nakamoto
http://www.bitcoin.org
> One thing that came to mind on this topic is the potential for
BitCoin
> loss if you have a system failure. The application doesn't seem to
> store any data in the directory that it runs in, so I assume it's
stored
> in the registry and other places (haven't cracked out
ProcessExplorer
> yet to check myself), so it may be a good idea to have the
application
> be able to export everything that it needs for recovery to a file
that
> could be backed up off of the system.
> One other thing I noticed today is that if you close the
application it
> doesn't appear to cleanly close it's network sockets (TCP RST's
start
> flying). Probably an item for the low-priority todo list (:
Satoshi
Satoshi Nakamoto
http://www.bitcoin.org
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Hey Satoshi,
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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It doesn't know any names other than what you tell it. The name
printed there is what's associated in your address book for that
address, either under the Address Book button or the "Change..."
button to the right of your Bitcoin address.
>Hey Satoshi,
>
>After that first transfer of 25.00, you didn't send me another
100.00
>did you? I sent myself 100.00 from my BitCoin application at work
to my
>one at home using the BitCoin address rather than by IP. My
application
>at home has a 100.00 transfer received, however it's transaction
details
>say "Received with: Satoshi 12higDjoCCNXSA95xZMWUdPvXNmkAduhWv".
That
>is not my BitCoin address from work, so I assume this means that I
>received the payment encoded with a block that was computed by your
>client? If so, how did it know your name in addition to the
BitCoin
>address that generated it? I don't recall there being a place in
my
>application to even put my name.
>
>--
>Dustin D. Trammell
>dtrammell@dustintrammell.com
>http://www.dustintrammell.com
>
From dtrammell@dustintrammell.com Sun Jan 18 18:09:32 2009
Subject: Re: Bitcoin Transfer
From: "Dustin D. Trammell" <dtrammell@dustintrammell.com>
To: satoshi@vistomail.com
In-Reply-To: <CHILKAT-
MID-365d0fe3-70f0-6f32-75a4-0c939706daf9@server123>
References: <CHILKAT-
MID-365d0fe3-70f0-6f32-75a4-0c939706daf9@server123>
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> It doesn't know any names other than what you tell it. The name
> printed there is what's associated in your address book for that
> address, either under the Address Book button or the "Change..."
> button to the right of your Bitcoin address.
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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The first default one is labelled "Your Address" when it's created.
All the places where address book labels are set are where the user
manually sets it. The only time it automatically adds a label is a
blank one when you send to a new address. I guess you could have
entered the label on an address you thought was mine but the
software was confusing and you put it in the wrong place.
Address book labels for receiving addresses is confusing but I'm not
sure what else to do. Anyone using it for more than just simple
purposes would need to create different receiving addresses for each
payer so they could tell who's paying them. That concept doesn't
have much analogy in the real world.
Satoshi
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> Address book labels for receiving addresses is confusing but I'm
not sure=
what else to do. Anyone using it for more than just simple
purposes would=
need to create different receiving addresses for each payer so they
could =
tell who's paying them. That concept doesn't have much analogy in
the real=
world.
I think had it said "Received with address: X" rather than just
"Received with: X" I think I would have understood, although I'm
sure
that address being mislabeled 'Satoshi' was the primary reason for
my
initial confusion. You're right though, there's really nothing
comparable in the current financial system that people are used to
other
than maybe being able to use multiple recipient email addresses for
PayPal. Perhaps it could say "Received payment to: X"?
--=20
Dustin D. Trammell
dtrammell@dustintrammell.com
http://www.dustintrammell.com
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The process has the potential to establish the POW token's value
in the first place, since spammers that don't have a botnet could
buy tokens from harvesters. While the buying back would
temporarily let more spam through, it would only hasten the
self-defeating cycle leading to too many harvesters exploiting the
spammers.
Satoshi Nakamoto