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Unhashed Podcast - Have you heard of my lord and savior Cthulhu

Published on March 3rd, 2021 by BTCMedia

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On this episode of The Unhashed Podcast, we go on a lot of tangents. As a springboard for said tangents, we mention trillions in stimulus packages, Citibank calling bitcoin's tipping point, Colin's research on paper wallet theft, Craig Wright's latest legal facepalm, Blockstream anti-exfil technique, and Nvidia's attempts to placate its upset gamer customers. Listen to the end to find out whether or not you should talk to other people on planes, and when mempools will empty again.

  1. Money printer go BRRR. A new $1.9 Trillion stimulus package is making its way through the US congress and looks like it will be signed into law soon. Direct stimulus checks will go out for $1,400 to every US citizen, more for those with kids. This is good for Bitcoin!

  2. Citi Bank released a report entitled “Bitcoin - At the Tipping Point”. The bank highlighted that bitcoin could “become the currency of choice for international trade,” thanks to its “decentralized design, lack of foreign exchange exposure, fast (and potentially cheaper) money movements, secure payment channels, and traceability.” In conclusion, the report states that “There are a host of risks and obstacles that stand in the way of Bitcoin progress. But weighing these potential hurdles against the opportunities leads to the conclusion that Bitcoin is at a tipping point.” – https://www.scribd.com/document/496504335/Citi-Bitcoin-at-the-Tipping-Point#from_embed

  3. Coindesk ran a piece which sourced research from your’s truly. As it turns out, the top google search result for “Bitcoin paper wallet“ was stealing users funds from a backdoor. Over 125 bitcoin have been stolen thus far and believe it or not, law enforcement has been slow to act even though the identity of the thief is well known. – https://privacypros.io/wallets/paper-scam-warning/

  4. Our favorite whipping boy Craig Wright has made another blunder through repeated claims of ownership over the “1Fee” address. This is the bitcoin address that stores 79,000 Bitcoin that were stolen from Mt Gox between 2011 and 2013 in the slow drain attack from its cold wallet. Craig asserted ownership of the address in a letter to Bitcoin Core devs demanding that they give him back the bitcoin because it was stolen from him (but not moved to a new address). Wright and company has now been served from Mt Gox creditors demanding restitution.

  5. Blockstream released a blog post on "anti-exfil", a New cryptographic tech to protect users from leaking keys through hardware wallet attacks. This is an attack that a malicious hardware wallet could perform against the ECDSA (and Schnorr, post-Taproot) signatures used in Bitcoin, in which signatures are generated in undetectably faulty ways that leak key material. In order to execute such an attack, a malicious party would need to compromise the signature generation code on a hardware device, which cannot be done without cooperation from the hardware vendor (or an incredibly serious security breach). However, because such an attack is undetectable, mitigating it is important for users who are storing coins for long periods of time, if only so that they can have peace of mind. – https://medium.com/blockstream/anti-exfil-stopping-key-exfiltration-589f02facc2e

  6. Nvidia is limiting the hash rate of GeForce RTX 3060 GPUs so they’re less desirable to miners and launching NVIDIA CMP for professional mining. In their announcement they write: "RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50 percent. That only makes sense. Our GeForce RTX GPUs introduce cutting-edge technologies — such as RTX real-time ray-tracing, DLSS AI-accelerated image upscaling technology, Reflex super-fast response rendering for the best system latency, and many more — tailored to meet the needs of gamers and those who create digital experiences. To address the specific needs of Ethereum mining, we’re announcing the NVIDIA CMP, or, Cryptocurrency Mining Processor, product line for professional mining. They don’t meet the specifications required of a GeForce GPU and, thus, don’t impact the availability of GeForce GPUs to gamers. For instance, CMP lacks display outputs, enabling improved airflow while mining so they can be more densely packed. CMPs also have a lower peak core voltage and frequency, which improves mining power efficiency. Creating tailored products for customers with specific needs delivers the best value for customers. With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers." – https://blogs.nvidia.com/blog/2021/02/18/geforce-cmp

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