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There are digital signatures that are linked to each transaction, and these signatures are unique. A Bitcoin private key is used for making irreversible transactions. It is impossible to copy these signatures. Therefore, it is possible to use a private key over and over again.

imageIt can be used to receive Bitcoin from others. This address is unique so that senders can make sure their email reaches the proper person. You most likely have an email address which can receive emails. A Bitcoin address is similar in that there is no other address like it.

These scammers are skilled in social engineering, making false claims to deceive and manipulate their target for fraudulent purposes. The scammers may also conduct outbound calls directly to potential victims. These scam websites, apps and social media profiles are luring unsuspecting victims.

Fraudsters set up scam websites, apps and social media profiles, to impersonate companies—including Coinsilium Group Limited —in the finance, tech, retail, telecom, and service industries, for investment solicitation, placement of fake orders, or other similar fraudulent purposes.

There are many terms associated with cryptocurrency that are important to learn. For those who are new to Bitcoin here is an explanation of each of these terms and how they relate to sending, receiving, and spending Bitcoin. A Bitcoin address, private key, public key, and passphrase are probably terms that you are familiar with if you have any experience with digital currency.

But I can rightly understand the critique of "Platform Maximalism" because not everything can be or bitcoin should be built "on top of" Bitcoin. There will be some things that are simply not technically feasible to put on top of Bitcoin, or they would require making unacceptable trade-offs to do so, harming Bitcoin’s decentralization, strict supply cap, verifiability, accessibility or scalability.

Even if the current RSK SPV peg could also achieve lower peg-out and peg-in block confirmations, if the merge-mining engagement increased, the SyncChain offers a lower number of confirmations for the same level of engagement.

A user is still able to run only the sidechain-only node (rskj), but he will be unable to validate peg-ins and peg-outs. In that sense, it automatically becomes an SPV "lightweight" node, with the same security model as SPV clients get, as soon as there is a peg-in or peg-out transaction.

You will often see the Bitcoin address represented as a QR code. This is done so that the address can be read by mobile phones and so that owners of an address don’t have to send the entire alphanumeric address to someone.

Here are a few thoughts I want to add: Critics of Bitcoin Maximalism seem to believe that maximalists are just toxic, hoi polloi, and not technically savvy on the realities and realpolitik of the "crypto" world. So, what does it really mean to be a Maximalist? Bitcoin Maximalists on the other hand cryptocurrency tend to believe their worldview is the ethical, rational and pragmatic stance to take in a world corrupted by fiat currency.

But if we want not unconditional security, then we must do better with anchoring. Assuming dishonest rational miners, a 10 block reversal is approximately costs 1.5M USD (1) , and therefore that would be maximum amount the peg-out transaction can transfer. With anchoring we can prevent the link-out transaction to move be moved into future blocks. One possible way to perform a double-spend attack is to try to revert the Bitcoin blockchain prior to the link-out transaction, and at the same time revert the RSK blockchain prior to the peg-out-request, creating a new Bitcoin branch that has both the link-out and peg-out transactions, but at a much later block. For example, the attacker reverts 10 Bitcoin blocks, and mines another 10 blocks without peg transactions, and finally adds an 11th block containing both the link-out and crypto the peg-out.

So in summary, Bitcoin Maximalism is the view that we’ll live on a bitcoin standard. Maximalists want to clearly distinguish Bitcoin from "crypto." They are focused on development, building, education and community growth. Other projects may exist, and they may even attempt to interoperate or connect with Bitcoin in some way, but ultimately, this is about the Bitcoin monetary revolution. There is pressure not to shitcoin scam or shitcoin grift, and this is generally done for the sake of retail consumer protection.

imageTherefore, to prevent a double-spend, RSK requires the highest assurance that the Bitcoin blockchain will not revert past the peg-out transaction, such as waiting for 100 Bitcoin block confirmations. This fake header-chain would not be a valid Bitcoin blockchain, and therefore Mallory would not disrupt the Bitcoin blockchain, but she wouldn’t be able to collect block rewards during the preparation of the attack. One of the properties of the RSK peg is that the reversal of the bitcoin blockchain does not imply the reversal of the RSK blockchain. However, we can think that if the SPV-based peg-in was maximally decentralized removing intervention from the federation, then the attack could succeed. In several previous blog posts we analyzed how the RSK peg works. Let’s assume that the merge-mining engagement is around 50%, and there is one large malicious mining pool we’ll call Mallory, that has 51% of the RSK hashrate (25% of Bitcoin’s hashrate). Mallory could try to use all her hashrate to create a false header-only blockchain and feed it to the bridge, causing the bridge to accept whatever fake transaction Mallory asserts. RSK is currently protected from this attack because federation functionaries will not issue a peg-in registration message if their local best chain does not match the Bitcoin best chain loaded in the bridge contract. We’ll call this a "fake peg-in" attack. Although the fake peg-in attack seems easily attributable to the "missing miner" by looking at the bitcoin coinbases, Mallory could claim her systems were hacked, and shift the blame to an unknown party. The cost to perform a fake peg-in for Mallory in an unprotected variant of RSK is about 10M USD in electricity.

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