2016-03-24.log

--- Log opened Thu Mar 24 00:00:08 2016
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bsm1175321Assume two coins having a UTXO set commitment scheme that allows compact proofs of UTXO set inclusion for specific outputs.  Could a ZKCP on each chain be used to atomically trade coins on one chain for coins on the other?  (Here the ZKP program verifies the UTXO set inclusion proof)17:39
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bsm1175321If the answer is yes, how does it get around this theorem? http://www.cs.utexas.edu/~shmat/courses/cs395t_fall04/pagnia.pdf17:41
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kanzureer that seems to require a consensus impossibility result, which we are already bucking because of bitcoin's looser definition of algorithmic consensus18:01
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kanzurealso, you seem to require two different contingent payments, with presumably two different setups18:04
bsm1175321Yes, each buyer sets up their own ZKP for it.18:04
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kanzurei don't see how atomicity applies to your scenario. i think that one party has to post the pay-by-altcoin-UTXO-set-inclusion-proof transaction before the other party?18:09
kanzureyou are proving inclusion in the UTXO set.. meaning you have already caused the payment to already be mined.18:14
bsm1175321And if the other party doesn't submit payment, you have to fall back on a backout transaction.  So this is no different than payment channels.18:15
bsm1175321Darn.18:15
kanzurei think you are missing a small detail,18:16
bsm1175321I do that.  Go on...18:16
kanzureyou can't fall back to the timeout transaction because you already made the contingent payment locktime transaction-- e.g. the other party gave you the hash and proof, so the other party is going to have a lot of time (before the timeout) to publish the preimage that they know (by virtue of them generating the hash and giving it to you).18:17
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kanzureat best you could probably do some zero knowledge proof of inclusion of a 2-of-2 multisig transaction where both parties are part of the multisig transaction, but as you pointed out there are other protocols available18:25
kanzureeh nevermind, i retract "at best"18:25
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bsm1175321These transactions have a scriptsig that reveals the hash preimage, that's the mechanism of revelation.18:26
bsm1175321So if either party spends the payment, the other party can too.18:27
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bsm1175321But I think neither party can spend it.18:28
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miguelankelgood morning18:39
miguelankelis bitcoin hacked yet?18:39
amillernot yet, thanks for asking18:40
Greybitsthere is some rumor about port 8332 if that is what you are talking about18:40
bsm1175321 /kick miguelankel18:40
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miguelankelokay, thanks, kisses <318:41
miguelankelwhen will bitcoin go to tha moon?18:41
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Greybits^ban  obvious troll18:41
amillermiguelankel, find an offtopic channel18:41
miguelankeli can't understand18:42
miguelankeli'm not in telnet now18:42
miguelankelsorry i don't remember how it works irc18:42
miguelankelare you hear me ?18:43
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miguelankel._.18:44
miguelankelno one talk here?18:44
miguelankelokay bye kisses18:44
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the_last9You guys heard about Lisk? https://lisk.io/ -- apparently every single one of their DAPPS runs in its own blockchain? They just raised 5 mill from their ICO.19:42
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the_last9We really need more of this stuff pegged to Bitcoin.19:43
the_last9I hope RootStock isn't too far away.19:43
kanzurewrong channel19:45
the_last9This channel is for discussing theoretical ideas with regard to cryptocurrencies19:45
Greybitsyes pls join #bitcoin-shills19:45
the_last9I'm not a shill rofl. I'm sending it in here so the devs can see it.19:45
bsm1175321What's with the trolls tonight?19:46
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the_last9If I was pumping it I would share it in #bitcoin, retards.19:46
the_last9Also it's not even on the market.19:46
Greybitswho let the trolls out?19:46
the_last9God damn, Bitcoiners are so defensive lately, sometimes I'm ashamed to be part of this group. You cunts make this community so toxic, makes me want to sell all my coins.19:47
bsm1175321Primary innovation is being written for node.js.  NEXT19:47
bsm1175321Also DPoS.  I like that idea actually, but not for a large open system.19:48
the_last9What about the sidechain thing? Is that a dumb idea?19:48
bsm1175321Their description of that appears to be a lot of mumbo-jumbo.19:49
bsm1175321For a "whitepaper" this is utter bullshit, it does not describe how it works.19:51
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bsm1175321Also, I organize a Whitepaper Wedneday meetup where we discuss such things.  I would not accept this whitepaper for discussion, it's very far from being a serious contribution to the space, AFAICT.19:52
the_last9Yeah, it's more of a 'doco' page. Pretty fail.19:53
the_last9And it's short as hell.19:53
the_last9https://www.blockstream.com/sidechains.pdf -- they link to blockstream sidechains mm. It'd be amusing if this turned out to be a scam after raising that amount of funding.19:54
bsm1175321I'm well aware of the Sidechains project, I was talking with a couple of Blockstream guys this afternoon.  A two way peg is relatively straightforward for any coin.  I don't see that these guys are creating any advancement at all.19:56
bsm1175321FWIW I recommend that everyone submit their whitepapers to http://ledgerjournal.org and get peer review. The scientific community has figured out the best way I know to separate the wheat from the chaff, and we should follow.  An ICO is generally a scam.  I want peer review.19:57
the_last9Oh cool, I like it. Wasn't aware this existed.19:59
bsm1175321We're in the process of migrating our blog and this will be reposted, but: https://webcache.googleusercontent.com/search?q=cache:id9tFNztCQMJ:https://blog.sldx.com/bringing-science-to-bitcoin/+&cd=1&hl=en&ct=clnk&gl=us19:59
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the_last9If you want to register a sidechain on your node, you need to be added by the owner of the sidechain (ie the person who created it and keep the passphrase needed for this action, secret).20:11
the_last9lol... Isn't that hugely decentralized?20:11
bsm1175321*centralized, yes.  What?20:11
the_last9err, centralized*20:13
the_last9 It is not yet optimal, this will be changed in the future. The idea is that anybody could mine a sidechain and the consensus vote apply the same way as for the mainchain.20:13
the_last9I see this as a huge weakness, if every DAPP has its own sidechain, small projects have huge security weaknesses due to their centralization?20:13
the_last9Seems sketchy.20:13
the_last9Makes me wonder why the other people in the smart contracts space haven't tried this approach or talked about it.20:14
bsm1175321I don't understand.  But mining sidechains in a secure manner is a generally unsolved problem.  It's the reason that the Blockstream Elements Alpha project chose a federated peg instead.20:14
the_last9bsm1175321: link if you're interested: https://forum.lisk.io/viewtopic.php?f=28&t=1320:14
the_last9Oh right. That's hilarious. So their solution is "we'll figure this out later"? LOL20:15
bsm1175321Basically.  I don't like it either.  But they at least admit what they don't know, rather than faking some insecure shit.20:15
the_last9True. Still, how can they say they're going to launch in April and they haven't even figured this part out yet. Doesn't it make sidechains vulnerable to doublespends?20:17
bsm1175321"We're going to figure out a huge unsolved problem in computer science by next month" is kind of the MO of crappy coin projects.20:18
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the_last9Indeed.20:24
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brg444the_last9 afaik nothing sidechain related is scheduled for april20:28
the_last9:O are you some kind of wizard?20:29
the_last9Says you just joined the channel, what is this sorcery. You idling on multiple clients?20:30
brg444I was reading the logs over at core slack20:30
the_last9Oh, wasn't aware it did that :P20:30
the_last9Anyway, yeah I didn't expect it to be. I looked at their roadmap, doesn't mention anything about the sidechains stuff at all.20:30
brg444that would be because core roadmap is a different thing than Blockstream's sidechains venture20:31
Greybitsknow why all the coins are doomed?  because they all lead to centralization, not decentralization.20:31
the_last9brg444: Naw I'm talking about Lisk, I think you might have missed most of the convo haha.20:32
the_last9Greybits: Everything leads to centralization.20:32
Greybitsblockchain is so bloated the only way it will work in the future is if Azure hosts it.  that sounds like a wonderful idea to me.20:32
brg444ah, yeah I had a look at the lisk thing... it smells like a scam20:32
the_last9Well if we think Bitcoin blockchain is bad, Ethereum blockchain is going to be far worse. But they claim "sharding" and stuff will fix it. Why couldn't Bitcoin follow the same approach if their approach was successful?20:33
Greybitsthat is like saying we cant we reverse engineer VHS if these DVDs are successful20:33
Greybitss/we/why20:34
the_last9brg444: Yeah I'm suspicious as well.20:34
brg444pretty nuts that people would hand over 14000btc to these guys https://lisk.io/team20:35
the_last9Why? Hard forks are possible.20:35
the_last9If it would even require one.20:35
bsm1175321AFAICT the existing Ethereum sharding proposal adds an economic incentive to not cross shards, without any mechanism to decide whether you need to cross shards.  So, I think it will cause widespread breakage of smart contracts in out-of-gas scenarios.  This problem is much harder than that, and economic incentives should, in general, not be used to solve computer science problems.20:35
the_last9I actually heard someone say "it's not a big deal if it's a terabyte in size, in a year you'll be able to buy terabyte harddrives for really cheap"20:36
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the_last9Ah, that's just mah Ethereum hard drive bro!20:37
Greybitsthe_last9, yes, because everyone should have to buy another HD just to run a bitcoin node.20:37
the_last9hahaha exactly20:37
bsm1175321We desperately need to solve sharding, as fast as possible.20:37
Greybitsi sharded one time...it was not pretty20:38
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the_last9well, Ethereum node. But Bitcoin will face the same fate eventually.20:39
bsm1175321Don't shard all over the floor. A UV light can pick that shit up.20:39
Greybitsall trolling aside....i am not expecting perfection from bitcoin.  but tell me how i can overlook the fact that bitcoin uses 10,000x more energry to process 3.7tps than visa uses to process 40,000tps.  please tell me how i can accept this a lover of mother earth.20:39
bsm1175321Bitcoin is facing it now.  Blocks are full.  An exactly full (1000000 byte block) was mined *today*.20:39
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bsm1175321Greybits: wouldn't you like to know that it costs me $1,000,000,000 to defraud you?  The alternative is holding up a JP Morgan data center at gunpoint.  What does that cost?  (dunno)20:41
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bsm1175321Proof of Work adds an economic value to one's ability to defraud another.20:42
bsm1175321I view PoW as a hedge of the honest element against the capacities of the criminal element.20:43
bsm1175321As an economic resource, I can increase my expenditure to ensure there is no fraud, via PoW.20:44
GreybitsIf you are speaking intellectually about economics than you have to consider the costs of the pollution from miners too, and could the same results be achievable with less damage to the environment.  again, nobody said it has to "perfect".  but i dont see the value in using so much energy for so little result.20:45
the_last9like what, PoS?20:46
Greybitsi dont have any answers, i am not smart enough to solve what i see.20:46
the_last9People like things with "tangibility", if it costs more to make a coin they're seen as valuable because that cost is transferred into the coin. it's our only argument against "bitcoins are created out of thin air from nothing"20:47
the_last9not great for the environment, but I think it gives the coins an aspect of tangibility, which is needed given how negative outsiders views are on bitcoin.20:48
Greybitsi understand your point, for purposes of this discussion.  at the same time, i dont think someone who is sitting the fence on bitcoins is going to think "well, it does use 22.7 jiggawatts of electricity, so maybe i should buy some".20:49
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the_last9haha, perhaps. when I've sold people on the idea of bitcoin before i make it clear that it costs a lot of money to mine a coin so they have inherent value. that argument goes out the window if they're free to make.20:50
the_last9also PoS carries an air of "make the rich richer"20:52
the_last9i mean, it's the same thing for hashing power, but it's less transparent20:52
Greybitsthank you for having a rational discussion about it.  i do understand your side of the arguments.  but i will never give up on fighting the good fight for mother earth, either.   i hope something good will happen.20:54
bsm1175321Fundamentally, any asset is a trade of one source of value for another.  "I'm going to put you on my VIP list" is not a source of value. The cost of creating a list is zero in the digital age. A blockchain is fundamentally just a list.  So...who I don't want to be on your list.20:54
Greybitsi need to go before i embarass myself further at this late hour.20:54
bsm1175321Likewise, thanks for an interesting discussion, thanks ladies and gents!20:55
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Greybitspeace.20:56
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