14 votes

Is bitcoin.org or bitcoincore.org the one to trust?

It looks like https://bitcoincore.org/ is the one run by the people who run the Github bitcoin/bitcoin project (the actual core developers) since it is the one listed on their Github page: https://...
ieatpizza's user avatar
  • 2,068
10 votes

What are the most notable cases of Bitcoin scams?

Here all famous scammers/sites: List of Known Bitcoin Scams: Beware of Fraudsters! Bitcoin Scammers list
Pandit's user avatar
  • 191
10 votes

Is proof-of-work required in Bitcoin?

Proof of work does not create trust. It creates incentive. Miners are paid if their block is eventually part of the main version of history ("blockchain") that the network accepts. They must ...
Pieter Wuille's user avatar
8 votes
Accepted

Why can't timestamps be a substitute for blockchain?

But then the next problem is transaction order and validity to prevent double spending. I don't understand completely why a timestamp can't just be included for every broadcasted transaction, and the ...
Meni Rosenfeld's user avatar
7 votes

Why does the blockchain need blocks?

A block is just an arbitrary grouping of transactions. It makes a convenient chunk of data for a proof-of-work to be performed on. You could hypothetically do the proof-of-work on the transactions ...
Jestin's user avatar
  • 8,812
5 votes

Why does the blockchain need blocks?

The short answer is that the "verification" done on every transaction by every node is preliminary and incomplete. It guarantees that the tx more-or-less makes sense, but it doesn't guarantee that the ...
Meni Rosenfeld's user avatar
5 votes

Why can't timestamps be a substitute for blockchain?

But then the next problem is transaction order and validity to prevent double spending. I don't understand completely why a timestamp can't just be included for every broadcasted transaction, and the ...
Ava Chow's user avatar
  • 70.4k
5 votes

How does LN solve the liquidity problem?

Whoever made that example doesn't seem to understand how the lightning network works. I think the creator of this scenario is confusing how the lightning network functions with how traditional ...
Jestin's user avatar
  • 8,812
5 votes

Is proof-of-work required in Bitcoin?

If most users are honest, then they would voluntarily enforce the prohibition to rewrite the blockchain. Without proof of work, this is just not possible. There would be no limit to the number of ...
David Schwartz's user avatar
5 votes

Is bitcoin.org or bitcoincore.org the one to trust?

https://bitcoin.org/en/bitcoin-core/ says For the latest developments related to Bitcoin Core, be sure to visit the project’s official website. (which is a link to https://bitcoincore.org/) So there ...
RedGrittyBrick's user avatar
4 votes
Accepted

Exchange Transaction versus Blockchain Verification

If you send 0.1 bitcoin to an exchange, you would see it credited to your account, but that doesn't mean that it is in a wallet solely dedicated to your account. Instead, that 0.1 bitcoin is sent to a ...
BlackBeltBob's user avatar
4 votes
Accepted

What if Zcash Company turns evil?

Zcash the currency requires the generation of parameters that must then be securely destroyed. If this data is not securely destroyed by Zcash the company they could undermine the currency, by being ...
nothingmuch's user avatar
3 votes
Accepted

Who is the certification authority in Bitcoin?

Depending on what function of the certification authority you are looking for, Bitcoin doesn't need one, or the blockchain does it. Identity in e-banking vs identity in Bitcoin network Electronic ...
Murch's user avatar
  • 75.2k
3 votes

Blockchain as a service - is this really just a replacement trusted third party?

First lets distinguish between a blockchain and Blockchain as a Service (BaaS), because they're two different things. Bitcoin, and other crypto-currencies, use a distributed ledger in a peer-to-peer ...
MrJLP's user avatar
  • 133
3 votes
Accepted

What exactly does "trustless" mean in terms of Bitcoin?

Bitcoin is untrusted, in that you don't need to trust a third party to use Bitcoin. Bitcoins are signed over directly from you to the recipient. This is binary, either the bitcoins remain under your ...
Murch's user avatar
  • 75.2k
3 votes

Is bitcoin.org or bitcoincore.org the one to trust?

https://bitcoincore.org is the official website of the Bitcoin Core project while https://bitcoin.org is a separate website and project which aims to provide general information about Bitcoin. The ...
Ava Chow's user avatar
  • 70.4k
3 votes
Accepted

Why is the full blockchain required, effectively forever?

How likely is it that some block from 1 year ago later turns out to be invalid? Very unlikely, but I think that isn't the problem. The problem is, how does a new user find out the current state (UTXO ...
RedGrittyBrick's user avatar
3 votes

The true reason bitcoin needs merkle proof for SPV wallet?

[Illustration by Matthäus Wander (Wikimedia)] The block header is an 80-byte data structure that has two elements relevant for this question. Firstly, the header commits to the previous block per the ...
Murch's user avatar
  • 75.2k
3 votes

Would a consensus algorithm like the one I describe work?

A node gets randomly selected to add a block to the blockchain with a chance of 1/n. This step is the key problem. How is the node randomly selected? What source of randomness would you use? If a ...
Michael Folkson's user avatar
2 votes

Do we have to trust at least one DNS seed?

What you are saying is correct. I'll quickly elaborate on why these hardcoded dns seeds are required. The attack you mention is called "peer list poisoning", a strategy that can be used to segregate ...
Penquin's user avatar
  • 671
2 votes

Can a publicly visible but privately mined block chain be trusted?

I'm hoping that data transparency and data integrity can be preserved by having a publicly visible blockchain but since there's no reward to users for mining there's not much reason they will actually ...
David Schwartz's user avatar
2 votes

How to avoid "single point of trust" in online bitcoin exchange sites

The Bitcoin Wiki (in the linked article for multisig) cites a post on BitcoinTalk describing nearly the same problem that you did: Suppose I am working with a company that wants to accept Bitcoin for ...
busterroni's user avatar
2 votes

Who is the certification authority in Bitcoin?

The decentralized network of Bitcoin miners is Bitcoin's "certification authority." Bitcoin's blockheaders (which miners create) are an example of a DMMS, "dynamic membership multi-party signature" (...
Geremia's user avatar
  • 4,626
2 votes

Attach and persist identity to address

I think this works great if you want to confirm a shipping address in order to make sure the person who paid is aware of where the shipment goes (if you want to accept the fact that everyone in the ...
Nick ODell's user avatar
  • 29.4k
2 votes

Ripple paper wallet: is "ripplepaperwallet.com" safe?

Considering the fact it has iframes (e.g ads) in it and they might have access to the parent (e.g http://ripplepaperwallet.com) DOM, I would say that even if it was an open source project (which I ...
Achi Even-dar's user avatar
2 votes

Exchange Transaction versus Blockchain Verification

As an example a sale (could be a buy or an exchange): You send some BTC to an exchange as a deposit to your account. The blockchain records that transaction. With respect to the blockchain the ...
brec's user avatar
  • 347
2 votes
Accepted

Is it possible for multisig wallets to have trusted addresses? (Dynamic amount of permissions required)

This is not a wallet function. This can be done with m-of-n multisig script. for example Alice, Bob, Charley, David and Eva want to have 3-of-5 multisig address, but David is manager and it is enough ...
amaclin's user avatar
  • 6,760
2 votes

Is transaction validation in Ripple trust-based or trust-less?

(1) Each validating server maintains a list of trusted servers known as Unique Node List (UNL). This is correct for the XRP Ledger. Non-validating servers do this too. (2) Servers only trust the ...
David Schwartz's user avatar
2 votes
Accepted

off-chain payment channels: Do we need to trust "Payment Service Providers"?

In lightning network payments are onion routed. The only thing a PSV could reveal is the previous and next hop, but they can not know the origin or the destination. They know it came from Alice, and ...
404 not found's user avatar
2 votes
Accepted

How do I know which exchanges are serious actors?

For finding Bitcoin exchanges, check here (exchanges are ordered by volume): https://www.cryptocompare.com/coins/btc/markets/USD There are two types of Bitcoin exchanges to consider: Centralized ...
deeplizard's user avatar

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