--- Log opened Fri May 13 00:00:13 2016 00:00 < lmatteis> anyway, the concept of distributed consensus is always tied to humans: with PoW you still trust the strongest chain because energy is pretty much accessible by many people. if only a few had access to energy, PoW would not be a good basis for distributed consensus 00:00 < r0ach> doing Rorschach tests for hours per day 00:01 < r0ach> proof of torture 00:01 < lmatteis> r0ach: that's assuming you want to do crypto. this concept has many other applications 00:06 -!- damethos [~damethos@unaffiliated/damethos] has joined #bitcoin-wizards 00:12 -!- JackH [~Jack@79-73-185-113.dynamic.dsl.as9105.com] has joined #bitcoin-wizards 00:14 -!- ThomasV [~ThomasV@unaffiliated/thomasv] has joined #bitcoin-wizards 00:17 -!- gabridome [~gabridome@net-93-145-200-45.cust.vodafonedsl.it] has quit [Quit: gabridome] 00:20 -!- CubicEarth [~cubiceart@c-73-68-232-79.hsd1.ma.comcast.net] has quit [Remote host closed the connection] 00:21 -!- gabridome 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Leaving.] 15:44 -!- earlest [~denetrabu@96.93.57.150] has joined #bitcoin-wizards 15:44 -!- Giszmo [~leo@pc-122-14-46-190.cm.vtr.net] has joined #bitcoin-wizards 15:45 -!- grantsmith [~grantsmit@unaffiliated/grantsmith] has joined #bitcoin-wizards 15:46 -!- CubicEarth [~cubiceart@c-73-68-232-79.hsd1.ma.comcast.net] has quit [Remote host closed the connection] 15:46 -!- bysherper [~denetrabu@96.93.57.150] has quit [Ping timeout: 240 seconds] 15:55 -!- DougieBot5000 [~DougieBot@unaffiliated/dougiebot5000] has quit [Quit: Leaving] 16:01 -!- asynk [~aknix@65.78.54.2] has joined #bitcoin-wizards 16:06 -!- MaxSan_1 [~one@46.19.137.116] has joined #bitcoin-wizards 16:10 -!- MaxSan_ [~one@78.129.153.58] has quit [Ping timeout: 265 seconds] 16:12 -!- gigq [~gigq@2602:302:d14c:51a0:fda1:c7e2:ba4d:22ce] has quit [Ping timeout: 250 seconds] 16:14 -!- gigq [~gigq@45-20-197-26.lightspeed.austtx.sbcglobal.net] has joined #bitcoin-wizards 16:25 -!- bramc [6b4dd54d@gateway/web/freenode/ip.107.77.213.77] has joined #bitcoin-wizards 16:25 < bramc> Does anybody know about fruitcoin? 16:27 -!- tromp_ [~tromp@ool-18be0bd8.dyn.optonline.net] has joined #bitcoin-wizards 16:32 -!- tromp_ [~tromp@ool-18be0bd8.dyn.optonline.net] has quit [Ping timeout: 260 seconds] 16:33 -!- grantsmith [~grantsmit@unaffiliated/grantsmith] has left #bitcoin-wizards ["Leaving"] 16:38 -!- bliljerk101 [~bliljerk1@2601:547:c303:6cd0:2127:8e73:3158:4a90] has joined #bitcoin-wizards 16:39 -!- Iriez [xbins@distribution.xbins.org] has quit [Ping timeout: 252 seconds] 16:44 < nsh> 'ICO' is a tell for scamcoin generally 16:45 < bramc> ICO? 16:47 < gmaxwell> "Initial coin offering" 16:48 < gmaxwell> usually used for varrious premine presales, as a label to given them a sheen of respectability like some kind of regulated financial product. :) 16:50 < bramc> Presales probably increases a coin's value by making a community of people who are bought in 16:50 < gmaxwell> for a brief period of time. 16:50 < smooth> Ethereum did an ICO and that's not a scamcoin right? 16:51 < smooth> Anyway I'm curious what is interesting about this fruitcoin 16:51 < gmaxwell> mostly it incentivzes people to behave unethically, to try to pump the price quickly though, which scares away other people. 16:51 < bramc> define 'scamcoin' 16:51 < asynk> smooth, :) 16:51 < smooth> bramc: anything other than bitcoin of course. Fruitcoin? 16:52 < bramc> smooth: There's a talk going on right now at stanford about it, claims to be an incentive-compatible blockchain. There doesn't seem to be a writeup of it on the web yet. 16:52 < gmaxwell> bramc: usually things that don't do anything at all except hype and die are pretty well deserving of the scamcoin label. 16:52 < smooth> hmm, maybe its not the same one as the ICO? Sounds like possibly an academic project? 16:53 -!- JHistone [~JHistone@cpc7-sgyl35-2-0-cust123.18-2.cable.virginm.net] has quit [Quit: Leaving] 16:53 < c0rw1n> "compatible with all the incentives we could think of" "which people will completely follow rationally" "what could possibly go wrong" 16:53 < bramc> smooth: Yeah it's by academics, not an actual altcoin, I'm curious as to what exactly it's claiming and whether it actually accomplishes that. Unfortunately I couldn't make it to the talk. 16:53 < nsh> hehm 16:54 < gmaxwell> https://bitcointalk.org/index.php?topic=1314005.0 < looks pretty scamcoiny. 16:54 < smooth> my guess is just name reuse 16:54 < bramc> To be fair, if you want to promote a coin which has something unique going for it, doing presales is probably the way to go 16:55 < smooth> nothing about that thread suggests any sort of consensus research. Looks like a blackcoin clone with some sort of prepaid card 16:55 < gmaxwell> bramc: probably not, because of the very strong asscoiation of scammyness, and the high attractiveness to people who _will_ engage in illegal activities. 16:55 < bramc> Yeah it's a name collision, different project 16:56 < bramc> gmaxwell: Avoiding presales might not reduce the level of scaminess 16:57 < bramc> My main interest in ethereum is in seeing whether its planned switch to CoW will cause it to implode 16:57 < midnightmagic> unethical or immoral coin forks that are usually (but not always) based on bitcoin, sometimes combined with obvious developer incompetence or code obfuscation, overly hype-like without substance to back it up in terms of innovation or novelty; scamcoins will also often criticize bitcoin in ways that only highly competent people can debunk. usually the novelties they hype for bitcoin differen 16:57 < smooth> i can't find anything about this fruitcoin anywhere, i wonder if it has a different name 16:57 < midnightmagic> tiation are not founded in actual reason. 16:58 < bramc> smooth: The talk announcement mentions fruitcoin and 'hybrid consensus' which somehow leverages a slow blockchain to get fast consensus in something resembling more traditional multiparty protocols 16:58 < bramc> It appears to simply not be published yet. 16:59 * nsh suspects either name-collision or the marketing and academic people never bothered meeting or sharing memos 16:59 < bliljerk101> https://bitcointalk.org/index.php?topic=1177633.0 - this looks promising. it's a decentralized ledger data structure (not a blockchain) that addresses double spends without arbitrary scalability limits 16:59 < bramc> midnightmagic: Yes the problem is that hardly any of the altcoins offer something which Bitcoin doesn't. Maybe zcash, monero, and siacoin. The others don't even have a coherent story 17:00 < asynk> lol nsh both to me are equally plausible 17:00 < nsh> sadly :) 17:00 < bramc> nsh: The person who's giving the talk doesn't have it on her home page, which strongly implies that it isn't on the web at all. 17:01 < midnightmagic> bramc: My pet favourite is namecoin, and the current devs there at least seem to be making an honest effort, and offloading a large chunk of what would otherwise be entirely blockchain spam. 17:01 < nsh> ah 17:02 < midnightmagic> bramc: but you're absolutely right, IMO. More's the pity. It's almost like the problem itself lends itself to competent developers running away as fast as they can. 17:04 < midnightmagic> (And also therefore monolithic developer communities who work super tightly together.) 17:06 -!- mdavid613 [~Adium@cpe-104-172-191-85.socal.res.rr.com] has quit [Quit: Leaving.] 17:09 -!- bramc [6b4dd54d@gateway/web/freenode/ip.107.77.213.77] has quit [Ping timeout: 250 seconds] 17:09 -!- TheSeven [~quassel@rockbox/developer/TheSeven] has quit [Disconnected by services] 17:10 -!- [7] [~quassel@rockbox/developer/TheSeven] has joined #bitcoin-wizards 17:10 -!- alpalp [~allen@unaffiliated/alpalp] has joined #bitcoin-wizards 17:11 -!- MaxSan_1 [~one@46.19.137.116] has quit [Quit: Leaving.] 17:11 -!- alpalp [~allen@unaffiliated/alpalp] has quit [Client Quit] 17:12 -!- alpalp [~allen@104-54-235-28.lightspeed.austtx.sbcglobal.net] has joined #bitcoin-wizards 17:12 -!- alpalp [~allen@104-54-235-28.lightspeed.austtx.sbcglobal.net] has quit [Changing host] 17:12 -!- alpalp [~allen@unaffiliated/alpalp] has joined #bitcoin-wizards 17:16 -!- bramc [634b58ce@gateway/web/freenode/ip.99.75.88.206] has joined #bitcoin-wizards 17:18 -!- Jushe [49ae9199@gateway/web/freenode/ip.73.174.145.153] has joined #bitcoin-wizards 17:22 < bramc> Yes namecoin is a real project too. 17:22 < bramc> To be fair, it's hard to come up with actual features for an altcoin to have, so a lot of developers who investigate it seriously just wind up working on Bitcoin 17:22 -!- raedah [~raedah3@172.56.39.105] has joined #bitcoin-wizards 17:24 < bramc> Sort of like what I'm doing, but I'm still working on an altcoin. Still working on getting the underlying math to a decent place though. 17:24 -!- dEBRUYNE [~dEBRUYNE@unaffiliated/debruyne] has quit [Ping timeout: 240 seconds] 17:25 -!- supasonic [~supasonic@172-11-188-117.lightspeed.rcsntx.sbcglobal.net] has quit [Ping timeout: 276 seconds] 17:25 -!- supasonic [~supasonic@172-11-188-117.lightspeed.rcsntx.sbcglobal.net] has joined #bitcoin-wizards 17:26 < bramc> To that end, there's been some advance on proofs of space. I had this bright idea that a proof of space can have a root value and a number of bits of its space, k, and to make a response to a challenge you need to find two k-bit strings which have the first k bits of the hashes of them, the root, and k itself collide, and the response to the challenge is the hash of both of those put together. Its quality is the difference from 17:27 < dgenr8> forking the bitcoin chain is a respectable way to distribute coins, if your alt is compatible enough. easier for BTC holders to love 17:28 < bramc> This trick still has TMTOs, but they aren't as good as simply hashing is. There are two interesting further improvements proposed. 17:29 < bramc> My further improvement is to have repeated rounds of hashing. That one I said is level 1, it takes two level 1 values to make a level 2, etc. That seems to make the TMTOs get kind of sad after just a few iterations and doesn't make it much more expensive to produce 17:29 < bramc> Also has the nice feature that looking up challenge responses is still trivial. 17:29 < gwillen> bramc: you got cut off at "Its quality is the difference from" I think, a few lines back. 17:30 < bramc> gwillen: Its quality is the difference from the challenge 17:30 < nsh> dgenr8, are you suggesting mainchain forks as a periodic jubilee system? 17:30 < nsh> that might be quite progressive if it worked without problems (which i doubt it would) 17:31 -!- gmaxwell [greg@wikimedia/KatWalsh/x-0001] has left #bitcoin-wizards [] 17:31 < bramc> Asset holders tend to not like jubilees 17:31 * nsh nods 17:31 < nsh> i originally had "hostile forks" for that reason 17:32 < nsh> though you might argue that it would tend towards making people maximise their non-transferable value 17:32 < nsh> which might make for better human beings 17:32 < bramc> Krystoff made the much more mathematical and beautiful suggestion of making the hash function be a modular root. That enforces an exact random permutation, and you can have a collision be between the two things which are the same except for their last bit. 17:33 < bramc> We have bankruptcy these days, which is sort of like jubilees. Still have inherited wealth though, which is a fairly dubious concept. 17:34 * nsh nods 17:34 -!- johnwhitton [~johnwhitt@c-71-202-223-50.hsd1.ca.comcast.net] has quit [Quit: johnwhitton] 17:34 < nsh> (creditors are still repaid with priority in most bankrupcies) 17:35 < nsh> the closest analogy to jubilees is the periodic abandonment of global monetary systems 17:35 < nsh> which tends to write off a bunch of dubious derivatives 17:35 < nsh> and is largely healthy and we're due another at some point, i suspect 17:37 < nsh> i don't understand the modular root observation 17:38 < bramc> About modular roots: We're looking for two k-bit strings which both hash to the same value. Ideally they would all come in perfectly arranged pairs, rather than a random distribution 17:40 < bramc> I will cut and paste, with apologies to Krystoff: 17:40 -!- Iriez [xbins@distribution.xbins.org] has joined #bitcoin-wizards 17:40 < bramc> we'd need a family of one-way permutations over small domain (sth. like {0,1}^{30}) , here by one-way I mean the best inversion algorithm is as (in)efficient as algorithms for ideal random permutations. 17:40 < bramc> A suggestion is to sample a 30 bit prime P and then using the OWP x -> g^x where g is a generator of a group of order P (should be a group over elliptic curves, not say prime order subgroups of Z_q^* as the latter allows for algorithms like index calculus that are even much better than the regular T/M trade offs). 17:42 < nsh> how does that guarantee a collision pairs? 17:42 < nsh> -a 17:48 < bramc> nsh: It guarantees a random permutation, so if you lop of the last bit you've got pairs 17:50 < nsh> oh, of course 18:00 -!- Burrito [~Burrito@unaffiliated/burrito] has quit [Quit: Leaving] 18:02 -!- supasonic [~supasonic@172-11-188-117.lightspeed.rcsntx.sbcglobal.net] has quit [Ping timeout: 244 seconds] 18:08 -!- [7] [~quassel@rockbox/developer/TheSeven] has quit [Ping timeout: 276 seconds] 18:11 -!- Ylbam [uid99779@gateway/web/irccloud.com/x-uwzkyvgysgyiugfo] has quit [Quit: Connection closed for inactivity] 18:15 -!- blackwraith [~priidu@unaffiliated/priidu] has quit [Ping timeout: 252 seconds] 18:15 -!- supasonic [~supasonic@172-11-188-117.lightspeed.rcsntx.sbcglobal.net] has joined #bitcoin-wizards 18:16 < dgenr8> nsh: a forkcoin is more like a rights issue than a jubilee. BTC holders have this new thing, which probably isn't worth much to start with. i've thought maybe it could work for zerocash 18:20 -!- se3000 [~textual@38.125.163.25] has quit [Ping timeout: 260 seconds] 18:22 -!- nabu [~nabu@gateway/vpn/privateinternetaccess/nabu] has quit [Ping timeout: 240 seconds] 18:25 -!- TheSeven [~quassel@rockbox/developer/TheSeven] has joined #bitcoin-wizards 18:31 -!- alpalp [~allen@unaffiliated/alpalp] has quit [Read error: Connection reset by peer] 18:31 -!- alpalpalp [~allen@104-54-235-28.lightspeed.austtx.sbcglobal.net] has joined #bitcoin-wizards 18:38 -!- alpalpalp [~allen@104-54-235-28.lightspeed.austtx.sbcglobal.net] has quit [Read error: Connection reset by peer] 18:38 -!- alpalp [~allen@unaffiliated/alpalp] has joined #bitcoin-wizards 18:43 < bramc> Anyways, the problem with applying the same sort of hash function on the second iteration is that it's only dependent on the value collided on, not the values which lead up to it, so the TMTO resistance isn't improved any. 18:48 -!- laurentmt [~Thunderbi@176.158.157.202] has joined #bitcoin-wizards 18:49 -!- laurentmt [~Thunderbi@176.158.157.202] has quit [Client Quit] 18:56 -!- GAit [~GAit@2-230-161-158.ip202.fastwebnet.it] has quit [Quit: Leaving.] 19:22 -!- pro [~pro@unaffiliated/pro] has quit [Quit: Leaving] 19:27 -!- alpalp [~allen@unaffiliated/alpalp] has quit [Quit: Konversation terminated!] 19:28 -!- alpalp [~allen@unaffiliated/alpalp] has joined #bitcoin-wizards 19:50 -!- DougieBot5000 [~DougieBot@unaffiliated/dougiebot5000] has joined #bitcoin-wizards 19:52 -!- Alopex [~bitcoin@cyber.dealing.ninja] has quit [Remote host closed the connection] 19:54 -!- Alopex [~bitcoin@cyber.dealing.ninja] has joined #bitcoin-wizards 19:58 -!- Noldorin [~noldorin@unaffiliated/noldorin] has quit [Quit: My MacBook Pro has gone to sleep. 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