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What is a crypto wallet - A noob explanation
365 Days Of Free Crypto (July 2023 Report)
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Alpha Capital claims that got "hacked" and lost 90% of all investors funds
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I imagine it has a lot to do with the fact that I have worked in technology all my life. I bought/built my first computer - a Tandy TRS-80 in 1976. I cut my teeth in the industry coding in BASIC and COBOL in the 1970s. In the 1980s I read the writing on the wall and switched from designing mainframe database applications to coding apps on the Microsoft platform and integrating distributed network. In the 1990s I was an early adopter of the internet having worked with FTP in the Air Force. I could see its potential and made good money as a civilian using Evergreen bulletin board to emulate file transfer protocols similar to what I had seen on ARPANET. When I first read about blockchain in 2009 it was clear that using blockchain to create immutable ledgers was simply genius. I could immediately see that withstood hacking attempts (as it has) it blockchain would be ground breaking on the scale of the internet or even the semiconductor. But I watched Bitcoin to se if it would get hacked. It did not. So I knew it would have tremendous first mover advantage as a coin. I was not bothered that Bitcoin’s slow transaction speed and high cost of processing pretty much preclude it from being a good retail currency. Bitcoin has proven to be precisely what I predicted. The best reserve currency available. Limiting circulation to 21 million means that the relative value of the noble coin to paper dollars in circulation was something like 123,000 dollars to one Bitcoin. That made Bitcoin at $500 Bitcoin an amazing bargain. So, it was really a no brainer. Buying Bitcoin was about the easiest investment decision I have ever made. And certainly the most lucrative.
>For example, if I IP whitelist the specific hosts who have access, I virtually eliminate even the access points where people could remotely hack into such a system. Lol. You're still arguing for a legacy tech stack. You're not able to accept what I'm telling you - I don't need the firewalls, the antivirus, the FTP site. I don't need you. ICP is **a more secure solution**. Who the hell cares if there is a login screen shown? Nobody is getting into the site. You have to hide the login screen **because it is a less secure technology** than ICP. The current tech stack is insecure by default. >Obviously you lack the technical expertise What tech expertise have you shown exactly? You know how to secure an FTP site? You're a dinosaur and are being replaced by better tech. Better go make sure your anti virus is up to date grandpa. Lol.
> Look you're not going to sit here and pretend FTP is as secure as the credentials created when you're using ICP which is developed by some of the top cryptographers in the world. Please seriously - this is not an argument. This is a perfect example of "Begging the question" fallacy, as well as an "Appeal to authority".. both are dishonest debate tactics. You can't just say, "my cryptologists are better than your cryptologists." Any "top cryptographer" will agree with me, not you. >Your FTP site is nowhere near as secure. If you spent 5 minutes seeing how an internet identity is created you'd know. For all I know you could have your FTP info written on a sticky note. My face is my credentials. You have no idea how secure my site is. In reality, it's significantly more secure than any ICP, because I don't have to make my system open to all. For example, if I IP whitelist the specific hosts who have access, I virtually eliminate even the access points where people could remotely hack into such a system. I think you just don't know as much about this as you think. It doesn't matter what level of encryption is used if 99.9999% of the rest of the Internet will never even be able to see a login prompt. Does ICP do that? Nope. It can't because by design, it has to be open to all. Most people won't even see a door to my system. And that's before we debate about whether my cryptographic tech is better/worse than yours. I can use the exact same crypto algorithms ad ICP if I so choose - and I may be using them already. >For all I know you could have your FTP info written on a sticky note. My face is my credentials. LOL.. you're using *facial recognition* for your credentials? OMG... wow... you really do not understand security. > On ICP it's just me and my site. No one else involved. Ok, so this is how it's going to be? You're just going to make up whatever reality you want and hide behind that? Obviously you lack the technical expertise to have this discussion with me. Find somebody who can talk tech with me and I'd enjoy having a conversation, but if you're going to pretend ICP is just one layer... then fuck off
> I can make the same web site and push the data up to it using secure FTP that has equally good protection. >Again, the Nirvana Fallacy. The same thing applies to me and my ftp password. if I'm the only one who knows it, nobody else can get in. Same difference. >You just said you access something with your private key. That's your "credentials." Now you say you have no credentials? Look you're not going to sit here and pretend FTP is as secure as the credentials created when you're using ICP which is developed by some of the top cryptographers in the world. Please seriously - this is not an argument. Your FTP site is nowhere near as secure. If you spent 5 minutes seeing how an internet identity is created you'd know. For all I know you could have your FTP info written on a sticky note. My face is my credentials. >So you've added extra layers of bureaucracy. What extra layers? You're the extra layers. On ICP it's just me and my site. No one else involved. >There is no risk in my system, that you also don't have in yours. Saying otherwise is a LIE. You are simply claiming your software has no bugs and is perfect. And that's a stupid thing to say, about any software system. This isn't true. I don't have to worry about you not patching a server, misconfiguring a firewall, or getting your information stolen where everyone can get into any site you're hosting if your anti virus isn't up to date. I'm not sure this is clear to you - these are not worries I have on ICP. >You want to know what the policies are, they're in writing. This isn't as secure as a protocol. You can do whatever you want. I don't have to worry about this on ICP. >I suspect ICP uses a more predatory metered system like AWS. No. Not close. They aren't charging you anything. You know you could spend 30 minutes learning about ICP, what cycles are, what a reverse gas model is, etc. and know how to really compare the two platforms. >Internet hosting company. They aren't an internet hosting company. Lol. Dude you really need to learn what ICP is. It's a protocol. >my system is focused around providing essential services for my clients All I want is a website for my personal info. There's no one in charge of the internet computer, I don't pay anyone, they don't charge me, they don't negotiate with me. It's an open protocol. It's cheaper for me and it's a hell of a lot more secure than an FTP site, the firewalls you configure, the anti-virus you install. I'm not really seeing why using your services would be better. You're more money, less secure, and more of a headache. You're the exact reason why ICP exists now.
> I make a website to keep a daily log of personal information. I use ICP and I push it all up onto the Internet Computer, and the only way to access it is with my private key. I can make the same web site and push the data up to it using secure FTP that has equally good protection. Plus, I don't pay per transaction or per byte of storage or per hit on the web site. >The entire application lives on ICP (only blockchain that can do this) since it can handle web requests (the only blockchain that can do this too). So you've added extra layers of bureaucracy. Why should the servicing of the web site need to be "on-chain?" That's neither efficient, nor practical. > It can talk to web2 APIs if I used other services on my site (the only blockchain that do this as well). Ok, but my app can do that two, and faster and more efficiently because it's not going through an extra layer of bloated code. > I do not have to worry about my credentials being stolen because there are none You just said you access something with your private key. That's your "credentials." Now you say you have no credentials? That makes no sense. >or someone breaking through a firewall, or malware, or antivirus, or my hosting company accessing it, or any other intrusion attempt. 1. You cannot guarantee the infrastructure is "hack proof" - that's the first thing any credible IT guy will admit. There is no such thing as a 100% safe system. So right away, your testimony is suspect. Each and every day, otherwise secure systems are found to contain vulnerabilities. Encryption algorhythms that were thought to be "hack proof" years ago, are now known to be insecure. No respectable security guy would make such a bold statement. 2. You just admitted you use private keys to access your instance. If someone gets custody of that private key, they have your credentials and can access your stuff. So basically what you're describing is any basic cryptographic login system. It's nothing special. You simply assume your credentials won't be known by anybody else and ergo, the system is secure, but that "nirvana fallacy" can also be employed by any other system and the end result is exactly the same. If nobody knows my ftp/ssh password, then the system is "secure" (provided there are no vulnerabilities that neither of us know about, which is item #1 i was talking about). >Nobody can get into the site on ICP. The protocol guarantees it is tamperproof and unstoppable. No changes can be made except by me. Again, the Nirvana Fallacy. The same thing applies to me and my ftp password. if I'm the only one who knows it, nobody else can get in. Same difference. >I use AWS instead or your web hosting company. I have to worry about (and pay for) everything I just listed above. AWS is not a good example because of their metered pricing. I have hosting where I pay a flat rate per month for x amount of resources. I'm not charged based on traffic. I suspect ICP uses a more predatory metered system like AWS. >Is that specific enough? And why would I pay more to use your web hosting company and open myself up to the risks? There is no risk in my system, that you also don't have in yours. Saying otherwise is a LIE. You are simply claiming your software has no bugs and is perfect. And that's a stupid thing to say, about any software system. >Do you think I should use your services to host my website instead? Why? Well, for starters, my services are not entangled with a ponzi scheme. There is no shady DAO that manages policy. It's just me. You want to know what the policies are, they're in writing. If policies change and you don't like them, you're free to move elsewhere -- same as with any other system, but my system is focused around providing essential services for my clients. Whereas your system is centered around creating some kind of "use case" that will make the developers filthy rich when they dump their tokens. ICP has two competing charters that don't work well together. They can't decide if they're a pump-and-dump crypto token scheme, or an Internet hosting company.
I have three points that I always make: 1. In general blockchain is a technology development as BROADLY important to economics as FTP protocols in the 70s. It is as important as AI today. 2. Bitcoin has pretty limited use for payments, because it is restricted by both the high costs and slow speed of transactions., However, that’s not what I use it for. The brilliant mechanism by which it validates itself and grows supply has never been hacked, meaning that the token is pretty reliable and secure. And is not going away - as some predicted. That makes it an excellent reserve asset. 3) Back in 2014 I jumped in with $2000 of my savings with which I was going to buy gold. For many reasons, not the least being its inherently limited supply, Bitcoin seemed to me then as now to be a more perfect reserve asset than gold. Since then I have made it my ultimate reserve. It has surpassed gold and silver by a long shot on my balance sheet. My motto since 2014 has been “I buy Bitcoin - I don’t sell it.” On rare occasions, such as this and other halving seasons, I convert some to cash. But just to buy more when the price dips. NO account or investment I have ever made has been better. And I have been investing for 50 years. Because of Bitcoin my RESERVE fund has done as well as my equity fund that contains the likes of Microsoft, Apple, and Nvidia. No other asset comes close to making me more financially secure than Bitcoin. Happy Halving!
There is no fool like an old fool. I am old almost 70. I have been in Bitcoin since 2014. I use it as a reserve currency. The strategic financial expectation from my reserve is to keep pace with inflation - no yield or profit - just keep pace. Imagine my delight at having arriving at retirement having LISTENED to my son in 2014. Granted, I am in tech so investigating blockchain was as fun for me as playing with COBOL in the 1970s or FTP in the 1980s. But I didn’t see it coming. Not until a millennial pointed it out. The result is my RESERVE has OUTPACED my equity portfolio over the same period. My retirement income has not just kept pace with inflation it has basically doubled. This is why I call anyone born after 1980 the “Savior Generation”.
And by deploy, surely you mean they FTP directly into the server with filezilla and uploaded the new code
Bitcoin is protocol, like HTTP, FTP, TCP/IP, etc.. You can’t ban Bitcoin, you can only ban yourself from Bitcoin.
Bitcoin is a protocol. It is not a apps, service or platforms. Protocols becomes move slow and become standards that allow apps, service or platforms to move fast. It has been 50 years since TCP/IP protocol was adopted into Arpanet as the standard for robust communication. There is no plan to replace TCP/IP 50 years later. Instead we build layers on top of it like HTTP that is ensentially a framework to scale TCP/IP that enabled the world wide web. Bitcoin has become the standard protocol for value transfer, it has been in production for 15 years and when it comes to protocols it is. We are building on top of Bitcoin today to scale it with lightning and other protocols. There was never really any competition for Bitcoin as the value transfer protocol. The largest contention was an internal war called the blocksize war that resulted in Bitcoin prioritizing decentralization. This was a huge victory as just like TCP/IP HAS to prioritize robustness above speed to remain useful Bitcoin MUST prioritize decentralization. Many of these have been updated over time but none of them have real replacements. FTP : 53 years old TCP/IP : 50 years old UDP : 44 years old SMTP : 44 years old DNS : 41 years old IMAP : 38 years old HTTP : 33 years old DHCP : 31 years old BitTorrent : 23 years old Bitcoin : 15 years old To understand this important point you raised you will need to study the difference between apps, service or platforms and protocols.
going from using an acoustic coupler to dial into a BBS on your TRS-80, to using FTP to download DOOM, must have been a wild ride. only super nerds would keep up with that shit. and now grandma is sending you videos on her phone. it takes a long time to nail down the UX of something new and we aren't even close to getting there yet. I think wallets will look completely unrecognizable in 8 years.
It does not only bring money - it marks bitcoin as something good and useful and greatly reduces chances of repressions due to "energy consumption" etc. Bitcoin - with all coin control, multisig, scripts, fee levels, confirmation times and hundred other concepts - IS geekish. People here like to compare it with internet - and then it is a stage when you configure your ip address, routing etc by hand in command line and then use it for sending/receiving emails, usenet and FTP.
Heres some links for you, understanding the internet and understanding hard money will help fuel your understanding of bitcoin. Get your set of balls, were going in. https://youtu.be/mII9NZ8MMVM?si=dRKI6d2TlgJwZgSf https://youtu.be/rc744Z9IjhY?si=r-ktN1aodSXCJP2F https://youtu.be/15beIVhFqX4?si=LVALcj8uHcf8k9v6 The internet is built of protocols, and that’s exactly what bitcoin is. What is the internet? In·ter·net /ˈin(t)ərˌnet/ noun 1. a global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols. What is a protocol? a protocol is a set of rules for formatting and processing data. Network protocols are like a common language for computers. The computers within a network may use vastly different software and hardware; however, the use of protocols enables them to communicate with each other regardless. What are the most used protocols for the internet? Transmission Control Protocol/Internet Protocol TCP/IP Transmission Control Protocol/Internet Protocol. It is a suite of communication protocols used to interconnect network devices on the internet. TCP/IP is also used as a communications protocol in a private computer network (an intranet or extranet). File Transfer Protocol (FTP) FTP is a client-server protocol, with which a client requests a file and the server supplies it. FTP runs over TCP/IP -- a suite of communications protocols -- and requires a command channel and a data channel to communicate and exchange files, respectively. Clients request files through the command channel and receive access to download, edit and copy the file, among other actions, through the data channel. Internet Protocol (IP) IP functions similarly to a postal service. When users send and receive data from their device, the data gets spliced into packets. Packets are like letters with two IP addresses: one for the sender and one for the recipient. After the packet leaves the sender, it goes to a gateway, like a post office, that directs it in the proper direction. Packets continue to travel through gateways until they reach their destinations. Simple Mail Transfer Protocol (SMTP) SMTP is the most popular email protocol, is part of the TCP/IP suite and controls how email clients send users' email messages. Email servers use SMTP to send email messages from the client to the email server to the receiving email server. However, SMTP doesn't control how email clients receive messages -- just how clients send messages. Hypertext Transfer Protocol (HTTP) HTTP is a file sharing protocol that runs over TCP/IP. But HTTP primarily works over web browsers and is commonly recognizable for most users. When a user enters a website domain and aims to access it, HTTP provides the access. HTTP connects to the domain's server and requests the site's HTML, which is the code that structures and displays the page's design. Ethernet Ethernet is a protocol that allows computers (from servers to laptops) to talk to each other over wired networks that use devices like routers, switches and hubs to direct traffic. Ethernet works seamlessly with wireless protocols, too. other important protocols not mentioned here: DNS DHCP POP3 IPv4 OSPF 802.11 (wifi) Bitcoin Value transfer P2P protocol, decentralized flat network, all clients, no servers. Circumvents the need for banks or intermediaries. “the internet of money”
>I was too young to remember the dot com boom I could remember it took almost a decade for the internet to have any practical use Well, that's wrong. Scientists used it to exchange information since the beginning. HTTP protocol was invented at CERN in switzerland by scientists. People had Usenet and Email in the early years. A few years after the open internet started (mid 90s), me and my classmates used it to download homework and music (from FTP Servers).
I'm not paid by any hardware wallet manufacturer, never have been. I have deployed hardened Linux in large scale security environments for literally decades. The first version of Linux I used, I downloaded from Linus' university FTP server at funet.fi in 1993, on 1.4M floppy disks. I started hardening Linux systems in the late 90s and building commercial bastion hosts for financial services companies in the City of London. And yet, I'd rather use a hardware wallet than spend hundreds of hours building and maintaining a DIY Linux solution because I know what that actually entails. HWs are more complex? Poppycock. Most are about as minimalist as you can get with hardware, firmware, and software without going to an ASIC. Linux is a general purpose kernel and OS that takes a *lot* of work to cutdown to a secure profile. I know because I did that work for years professionally. You are out of your depth. There's nothing wrong with that if you're willing to learn new things. But spreading nonsense to newbies is not cool. Take a seat, please, before you do more damage.
Not really. Ask most folk if they're familiar with FTP, Archie, and Veronica, and you will get blank looks. They were the Internet killer apps of the 1970s. That said . . . **Almost no-one today interacts with the Internet**. Ask about *packet sniffing*l and they will call the cops in you. The *modern* killer apps were in 1996. Netscape used the HTML protocol. The search engine was Alta Vista. Most folk today have never heard of either. But they caused the 'Net to take off, big time. I suggest LN wallets like Phoenix are today's killer apps. Might be before your time, but your kids are gonna love 'em. You know, you might want to think about zooming out, a little.
Mine is also something unheard of in here. FairTrader (FTP). Probably like <100 investors. Has gone to almost 0.
Only LUNA I think and another one FTP that I doubt anyone in here would know, consider it super micro cap perhaps
>Crypto still remains an "investment" rather than an actual day-to-day payment system. Even with stuff like Chainlink and XRP partnering with banks to facilitate int'l transactions, the vast majority of people are not willing to try out crypto for transactions and would rather pay a slightly higher fee for a solution that involves traditional banks You misunderstand how these protocols are being implemented. People will use XRP without knowing they are / how the protocols work. It will be just like HTTP, TCP/IP, FTP, SMTP, VOIP. they will use RCP (Ripple consensus Protocol) without ANY idea of how it functions or that they are even using XRP at all.
I mean yeah, why would I use my free time to earn pennies from a "FTP" crypto game?
It’s honestly a great time with all the progression events as a FTP player. Yeah boring games but you can earn almost 20$ in RLT a month just doing 20 a day and selling the parts along with the lower end miners you get for free from the events
Ayy FTP! I feel you on that. I just do a quick 20 each day for the coins at this point unless there’s a GOOD progression event going on!
The internet did not go "mainstream" simply because people went around preaching it in public. It went mainstream gradually when it started to serve people's needs with **actual utility**. Right now, there's two broad categories of utility I see: 1) Investment and trading, and 2) Limited value store and in turn, payment with value store. Internet went mainstream more with actual utility beyond its underlying tech. Email and FTP rest on RFC 1939 and 354 but users don't need to talk abt how great these RFCs are or how TCP/IP is superior to IPX or X.25. Researchers and academics would have their discussion on BBS and UNIX / VAX forums but they didn't go around evangelising to normal folks on the street. Instead, they just build up the underlying tech, coming up with newer and newer applications until someone come along and bridge product with tech. Early web sites were fancy upgrades of BBS. Many basically were ports of BBS from text to html. Then we started having email providers like [postone.com](https://postone.com), [hotmail.com](https://hotmail.com), and directory/search services like Alta Vista and Yahoo!. IRC, ICQ, Instant Messengers came along while Real Audio and then Real Audio, gave voice and video to the internet. Users did not really TALK about the internet, they just used these applications because they provided some kind of utility to them. If crypto users go around talking in public to people about crypto without something more tangible beyond the above two utility categories, we would really sound like Christian evangelist or mormons, preaching for the sake of preaching. Christianity and love God as an end in itself. And it fucking turns people off, both for crypto and Christianity or any religion for that matter. So, we need to keep the "talking" and "preaching" in check, and focus on building tech and applications for devs, and using the applications for users.
"Gamers can stand a chance to win Nano by playing Space Invaders at a bar in Leeds. The machine is free-to-play but players can win Nano by playing it." You know what, this can be a good business model if you have the know-how to transform classic games into FTP but with reward incentives.
I dont know. Are games downloaded from torrents or FTPs torrent or FTP games? Why would this be any different. The game experience is downloaded in Java to your browser.
I, too, have a low opinion of email and FTP.
FTP and PS has entered the chat.
Protocols can change and evolve with time. Many foundational internet protocols still exist today and are ubiquitous today: HTTP, TCP, FTP, etc. Even if the tech might look very different in the future, but it will still likely be called Bitcoin.
It's the same reason why nobody talk about TCP/IP, FTP, HTTP, SSL, POP, SMTP, HTML, XML, but about facebook, amazon, tiktok etc.
If quantum computer breaks private keys, your crypto is the least of your concerns. Banks and other big financial industries use a lot of cryptography such as RSA private keys or ED25519 or ECDSA etc. with their connections. DB connections? SSH RSA private keys, server connections? RSA still. FTP? RSA. BUT! Cryptography is constantly improving. 1024 bit private keys now have 2048, some are even using 4096 and so on which increases the security. ​ Not like you'll understand what I'm saying completely or the rest of people here so I'll just give you an analogy that a teenager will understand. Say we have a person (PersonA) who writes computer viruses and a person (PersonB) who writes antimalware software to scan and clean up systems. As PersonB continuously create scripts and routines and gather data to counter the viruses, PersonA will also continuously create undetected viruses. Progress and will just keep chasing each other indefinitely.
Don’t forget DNS, FTP, TFTP and HTTP ;)
You're absolutely right. To make an analogy to the Internet were still in the protocol phase where if you want to transfer a file you need to know about FTP, server IP addresses, ports, etc. Want email? Set up a server, know what POP3 and IMAP are, etc. The core foundation of the Internet is TCP/IP. Other protocols were built on top of that but it didn't really even start to become very accessible until the world wide web and web browsers were developed. Even then it was pretty cumbersome and had a pretty steep learning curve for a lot of people. Since then we've seen more and more refinements, web browser wars, search engine wars, and more layers that ultimately lead to greater levels of accessibility. Where are we in crypto? I think we're where the Internet was before the world wide web and web browsers. We're at the stage where most people using these systems are developers, professionals, and geeks. Maybe CEXs are like America Online and Prodigy you could login and go 'online' to use Internet-like services but it was not the Internet. It is not convenient yet. But 5 to 10 years from now things might be looking pretty different.
that b00m3r can’t even FTP or SSH let alone understand the importance and complexity of cryptocurrency in today’s hack able banking system.
We're talking about seed phrase on an FTP server. If I had that kind of access (and questionable morals) I would move all the funds immediately to a (freshly generated) cold wallet. I'll have all the time in the world to figure out how to proceed from there without getting caught.
I mean you will still see it sometimes used, dedicated gameserver hosts often offer FTP to upload your mods for example. But it's never used on anything that needs to be even remotely secure.
It's definitely that. No competent IT professional has used FTP in a new deployment for decades now. There was absolutely zero reason for that machine to have an FTP server, no ifs, ands, or buts. This would be extreme negligence if it weren't an inside job.
Pivoting from FTP to SSH seems…eh? Seems like at best they lost the keys via the ftp
Complete fiction. It is a new server... how did the "hacker" even know it was there? Let alone they "breached" the FTP and SSH service? What does that even mean? That doesn't even make any sense. These services would be on a non-standard port, using both password auth and pubkey auth and the "hacker" would need to know this, and have legitimate credentials. This isn't NCIS.
Tjis is following the first message. *A hacker compromised the new server we have just setup for automatic insurance fund withdrawals and profit injection located at admin.alphacapital.app.* *According to the server logs, the hacker breached the FTP service running in the server which we have used to upload the code for our infrastructure. The hacker then managed to gain SSH access through the breached FTP service (we are still investigating how he was able to do this). We believe that hacker then used the server’s whitelisted IP address to drain the Binance account into his wallet, although no proof of such a script was found on the server, the hacker probably deleted all logs and files, but we will try and recover a snapshot of the server to see exactly what he did. Fortunately, Binance’s protection system disabled withdrawals and we managed to save a part of the funds. Unfortunately, it was just a small part.* *The server also contained the private key of the address which was withdrawing assets from the contracts and depositing them to Binance. This was in our preparation of integrating it with the bot for automatic deposits, withdrawals and profit injections in case of a bigger position.* *We would like you to know that the insurance fund still remains intact and those funds are safe. We have removed every piece of confidential information from the server to prevent any damage going forward. We will come back with another update containing the exact amount of remaining funds and the plan going forward.*
Yeah, and see the other explanation: ​ >*A hacker compromised the new server we have just setup for automatic insurance fund withdrawals and profit injection located at admin.alphacapital.app.* *According to the server logs, the hacker breached the FTP service running in the server which we have used to upload the code for our infrastructure. The hacker then managed to gain SSH access through the breached FTP service (we are still investigating how he was able to do this). We believe that hacker then used the server’s whitelisted IP address to drain the Binance account into his wallet, although no proof of such a script was found on the server, the hacker probably deleted all logs and files, but we will try and recover a snapshot of the server to see exactly what he did. Fortunately, Binance’s protection system disabled withdrawals and we managed to save a part of the funds. Unfortunately, it was just a small part.* *The server also contained the private key of the address which was withdrawing assets from the contracts and depositing them to Binance. This was in our preparation of integrating it with the bot for automatic deposits, withdrawals and profit injections in case of a bigger position.* *We would like you to know that the insurance fund still remains intact and those funds are safe. We have removed every piece of confidential information from the server to prevent any damage going forward. We will come back with another update containing the exact amount of remaining funds and the plan going forward.* Here is the [screenshot](https://imgur.com/a/GuwF3fI).
> They claim that, while attempting to create an API on their new website for the insucrance fund, an hacker managed to get through the FTP of the site and steal their seeds and got access to the fund (now this is what I understood reading the posts from the team). There is no way any server admin is that stupid. * FTP directories are supposed to be in DMZs with low security. * Why are they keeping seeds on servers in the first place without layers of encryption? Totally smells like a scam/rug pull
You can’t “accept my branch” without the git server running. What are you even talking about. You can do so locally but then need to push that again and need the authority to do so. You simply downloading a client does not enable you to do so. It also does not affect my branch locally. Show me a single git repository that runs without a git server. That simply doesn’t work. If the server does not grant your local branch push, you can merge and rebase and cherrypick and delete all you want, this will not matter for the repository and for any other client of that repository. There is a CENTRAL POINT which determines whether your local changes are legal for the rest. Even if there are multiple servers, they determine this. Not you. SSH is also not “decentralised”, it’s a shell access that is tunnelled through a SSL encryption. What would a “decentralised shell access” even mean in that context. Is every network application decentralised for you? The big, big difference is that in a centralised application structure you have server-client relationships. In a decentralised application structure you have only client-client relationships. Torrents are decentralised. An FTP is centralised, even if there are multiple servers joint in a net. A SFTP is also centralised as you (at least that…) correctly stated that authentication and encryption does not impact that. My god. This space is doomed.
Also a good point. 13 years is the blink of an eye, really. Lots of protocols lasted 13 years or more before people collectively realized they were shite and we should do better (plaintext FTP or even plaintext HTTP for example).
There’s literally 0 incentive for game developers to allow you to port currency between games. You’re effectively asking them to ruin their business model as a ton of games are FTP or subscription based but rely on in game transactions for revenue. It simply would be a move to the detriment of the participating parties greatly favouring the consumer.
The real red flag is anything starting with FT. FTX, FTP, FTC
> as sftp SFTP and FTP are two completely different protocols. > SFTP is not FTP run over SSH, but rather a new protocol designed from the ground up by the IETF SECSH working group.
> Most protocols fail, huh? > > The aforementioned tcp/ip, smtp (introduced in 1982), ssh, imap, ftp, dns, etc are all going strong for decades. Upgrades come (DNSSEC is slowly replacing plain old DNS). Yes, of course. If you think FTP is "going strong", then [you are not paying attention](https://www.feistyduck.com/bulletproof-tls-newsletter/issue_79_the_end_of_ftp_in_browsers). Gopher, FINGER, LDAP, NFS, NNTP, most filesharing networks and their protocols, etc. Most things fail. > I see the different cryptos like different protocols. Well, if you do, then you probably agree that most of them will fail. There are maybe 10,000 cryptocurrencies. What percentage of them are actually used as currencies? >All are being actively developed. Constantly changing. No. >I predict this will change greatly, like https came along to lock down web surfing. You’ll see When?
My go to move is talking about protocols people already use. SMTP, FTP, HTTP, IP, TCP, DHCP, which some people have heard of but ignore what they are. Then I explain that they are just a set of rules people agree to and follow to set a standard of communication. I inform them that 100s of others exist that might be better but it doesn't matter because they aren't that much better to convince people to switch or use. Then I add, Bitcoin is another protocol and one day you will be using it whether you know it or not. Why not learn about it now and get in earlier rather than later. Either way things will be built on top of it regardless of what you decide. The only difference is you get rewarded for getting in early.
Bitcoin is a protocol like IMAP, POP3, SMTP, FTP. These protocols due to their network effects are not replaced. Bitcoin is money, and unlike the latest tech gadget, tech fad, or piece of software, Money depends mostly upon network effects, liquidity, stability, acceptance, trust , and security.
TELNET is commonly used by terminal emulation programs that allow you to log into a remote host. However, TELNET can also be used for terminal-to-terminal communication and interprocess communication. TELNET is also used by other protocols (for example, FTP) for establishing a protocol control channel.
The present infrastructure is just… unbelievably clunky. ACH transfers are literally made by plunking a list of transactions into a bucket on a treasury FTP server that gets processed once a week. I’m not an expert on the CBDC but I have a friend who worked on it. My understanding is that it does not run on a blockchain, but it does use a bitcoin-style UTXO ledger to achieve fast, verifiably secure transactions.
Any FTP game has this too avoid the grind. Eg people unlock the tech tree in warthunder and sell the account for thousands of dollars
>Not entirely true, but I get what you mean. Are you sure? I would even go one further and say the current financial system is actually all just decentralized ledgers. Very inefficient archaic ledgers on COBOL machines operated by bankers who send CSV files with transactions via FTP servers to each other and is entirely based on trust.
All of those things you mention at the top are not actually happening. There are very few properly functioning DAOs. More often than not the members of the DAO do not have the technical understanding to properly write a smart contract and it is rendered worthless. No one is sending remittances in any significant quantities since the odds of the money being lost are so high. To use a remittance you either need to be very technically competent, or use a centralized service that wraps the crypto experience and takes a cut of the money. You are better off using Western Union or a bank. There are very few instances of any of the things you mention because the experience and underlying technology are inferior to existing solutions. With regards to 80’s internet usage it was a thriving highly reliable system used by millions worldwide. We used telnet, ftp, smtp (mail), gopher, usenet (message boards). The population was mostly academic and engineering, but we ran our businesses on the internet. The big breakthrough was HTML and HTTP that allows for user interfaces to be developed. The underlying technology was solid and is in use today pretty much unchanged. There were never discussions of whether the internet would be useful. It was never “one day it will be useful”. It was useful then. I remember visiting open source software repos in Finland over FTP to get code examples for my work. You can still use FTP today.
So basically use other peoples funds to create more for himself. If he succeeds, no one is the wiser and he makes crazy money. If he fails, other people lost money. Crazy thing is he could have just waitee hoping for a recovery in the first place acting like everyones funds are still there (like FTP back in the day) and he'd probably be okay right now (depends what price he sold them at).
We still don't have an app layer Normal people aren't supposed to use the infrastructure layer This is like the internet, and all we have so far is TCP/IP and a few other obscure protocols like FTP. no HTML yet, no fancy javascript, etc. People don't know that so they think this is all there is.
It wouldn't be earnings from the same place. A FTP earns revenue because they have a monopoly on assets that people are willing to spend fiat currency to attain. If the person could then sell that asset on the open market then the fiat value goes down as it would be advantageous to sell under the game's market value. And if the game gave out that asset for free, it would encourage people to sell it for pennies because it would be pure profit to them, thus trashing the value. That being said, I fully agree with your second paragraph and conclusion.
When laypeople speak of "the Internet," they mean HTTP and the World Wide Web. They don't care about SMTP, NNTP, FTP, GOPHER, and all the other application protocols that preceded the WWW.
LOL I completely forgot that they ran FTP servers
>Fleek offering GitHub integration is a feature. It doesn’t need to useit. If they had the time and money, they could code a local application that updates your files locally. Github IS a requirement to use Fleek, there is no way around. It makes it no different than deploying to Heroku vs deploying it to your own self hosted server. The fact that heroku could use Github or FTP doesn't make it less Heroku. Can you see the difference now? >And the ability to incorporate other low level languages makes this an issue of time, before a whole operating system can be built for it. Like it’s totally possible right now, but it’s early days and nobody has done that. Then it's not embedded at all nor it contains low code language as you have tried to prove throughout this thread. You are aware that the ICP code is what interacts with the hardware right? And that no one else except Dfinity's friends and family has access to that right? Being able to execute compiled code within canisters DOES NOT make something low level or embedded. Maybe a simulation of could be made upon layers of software that belong to Dfinity/ICP. Call me back when I can manipulate the datacenters machines to be able to call it "low level". >It would be equivalent to running a VM server. Which you could do, with canisters. And it totally would be competitive with azure or Aws, price wise. See, not embedded core or not low level languages. I don't care about prices nor this discussion was about that. I'm glad to see that you were the one who had no clue what he was talking about.
I disagree. For the first 2 decades (hell, 3 compared to the past decade) the internet was just as barren, if not more. It was used for one thing, and one thing only - communication of data (HTTP, SMTP & FTP mainly). Guess what, one decade later we not only have a working P2P transactional system at a global scale, but we're also experimenting with things like sats-based streaming. Sometimes it's not about quantity, but more about quality. Quality takes time. No wonder "crypto" broke off and we now have thousands of coins, most of them trying to do everything in one layer, and better. Whereas Bitcoin does one thing, one thing at a time, and does it well. For years, while I liked the concept of Lightning, I was very sceptic - To me it doesn't seem like the best way to do microTXing, and yet it's grown so much I'm thinking it's here to stay because it inherently does work and the pain-points around node-operation and channel-management are getting refined and improved. RGB is on its way too. So you have very few protocols, but with very serious intentions and game plans. And really, that's what we need. We don't need a playground of token-based applications where every startup and their mother has their own token wrapped in buzzword-ridden Bitcoin. We still use SMTP for Email today. Doesn't mean the number of applications related to it didn't spiral. We still use HTTP today. Protocols like GOPHER just didn't make the cut. Yet the way we display and interface with webpages today is not the way webpages were displayed back then.
You are mixing crypto market with crypto projects. Is SSH a scam ? Is FTP or HTTP or SSL ? They are just protocols. So is crypto. Only this time we can trade in it. And for time being its lawless.
>Comparing Bitcoin to TCP/IP or any other protocol is intellectually dishonest. Is it though? Is there another globally adopted open source TCP/IP? POP? SMTP? FTP? Again, another comment making me feel like we're MEGA early... Respectfully, y'all don't get Bitcoin yet, I mean, maybe no one does truly, but if we're talking intellectual honesty- I think you're missing some details/history- >Bitcoin, while it was the first, uses blockchain technology. Blockchain is a marketing term created by altcoin marketers \~5-7 years ago... Sure, Bitcoin uses a "chain of blocks" but that term didn't exist until marketers of OTHER projects realized they needed to distance their brands from the FOSS Bitcoin project... It's hard to sell something if you have to advertise it with a competitors name first... >Bitcoin is not the structural backbone of all that is blockchain, you have it backwards. Every single piece of software written based on the Bitcoin code was written with insider knowledge/understanding of Bitcoin. Bitcoin is the structural backbone of an internet of money, in the same way that SMTP/POP is for an internet of ideas in the same way that TCP/IP is structural for all the above... Show me the alternative to TCP - here's a top google result for you: [https://www.quora.com/Is-there-an-alternative-to-the-TCP-IP-model-that-does-not-utilize-the-Internet-Protocol-IPv4-6](https://www.quora.com/Is-there-an-alternative-to-the-TCP-IP-model-that-does-not-utilize-the-Internet-Protocol-IPv4-6) Look at that history and you'll see why I think this way of Bitcoin - Once these technologies (in a way, discoveries) were on the table- their core principals/code didn't leave us. From the start, those alternative projects intended to compete with Bitcoin, as "better gold", with VC backing, CEOs, value propositions, more centralized ownership / control... etc >Before you think I'm a shill, I bought at 38, I bought at 31, I bought at 29, I bought at 28. I own bitcoin, and I continue to buy it. But throwing out false comparisons does nobody any favors. I don't think you're a shill, nor am I here to argue- but rather discuss and better understand what Bitcoin is to us all... :D To me, it's a protocol for an internet of money... All of the other Cryptos/NFTs/Web3, even the word "Blockchain" as far as I'm concerned- is BULLSHIT.
Replace the word bitcoin with blockchain and you may have an argument here. Comparing Bitcoin to TCP/IP or any other protocol is intellectually dishonest. Bitcoin, while it was the first, uses blockchain technology. Just like other pieces of software use TCP/IP, FTP, Telnet, SSH, or POP3. Those are the structural backbones of the software. Bitcoin is not the structural backbone of all that is blockchain, you have it backwards. Before you think I'm a shill, I bought at 38, I bought at 31, I bought at 29, I bought at 28. I own bitcoin, and I continue to buy it. But throwing out false comparisons does nobody any favors.
It's a different network, but it's open just like bitcoin and many people run lightning network on their bitcoin nodes. There's a push in the public narrative (Twitter, YouTube, blogs) to consider lightning to be part of bitcoin, and that's really like saying HTTP is part of the internet, and it's not the only interface, you can use sockets, FTP, SSH, all over the internet too. With bitcoin, we have coin swaps, coin joins, multisig vaults, but lighting seems to have the best guarantees and least centralisation of them all. Http can also be used within an intranet, just like lightning can be used on top of other shit coins.
Iirc it was because of UIEGA - bascially the sites were operating illegally but it had been (perhaps optimistically perhaps cynically) considered a grey area by the companies that allowed US players. The major sites all claimed to have player funds segregated, FTP, UB/AP ended up not actually having done this while PS had (or at least, had the funds to pay).. as part of their deal with the US government PS bought FTP and agreed to pay player balances which had been locked up.
While I think this is valid question that average Joe can ask, the average Joe doesn't have a clue on how Internet works, how it started, why we have those protocols (HTTP, TCP/IP, Ethernet/FTP and etc. ). What Joe cares about is TikTok, Youtube, Facebook ant etc. So, I think crypto is start of new field, some may call it Money 2.0 (Web 3.0). And as usual there are many people/companies trying to become champions on this new field. And of course ton of scam. That is how it works with people, this is how we do it. :-) I guess it will be reshaped constantly and some sort of solutions will be developed so that the Joe will understand it and use it. But now, this is very wild land.
You are right in that it is a much more tendentious comparison than it would seem from how seriously people take it. I would have to disagree though that crypto isn't an ecosystem of data, or that they simply exist separately online. Every crypto transfer comes enclosed in at least one TCP/IP internet packet. The most accurate analogy for the relationship of today's cryptocurrencies to the internet would be to a pre-web text-only service delivered over TCP/IP, such as gopher, FTP, or NNTP. Each cryptocurrency is like an internet protocol of its own. The internet protocol it resembles most in terms of data structures is probably NNTP (AKA Usenet). The protocol it (currently) resembles most in terms of actual usage steps is definitely email. But the protocol it resembles most in terms of future growth potential is FTP, because FTP is the internet protocol that formed the logical foundation for HTTP. (Many early web pages did all their downloads over FTP instead of HTTP.) I think it is inevitable that cryptocurrency internet protocols will follow a similar evolutionary path, user interface wise, as FTP -> HTTP. Some think that path will look like what they call 'web3' but I am not so sure. Vested interests from the previous tech generation rarely succeed in catching lightning twice in a bottle, so it may be more likely that something more disruptive will come along and make 'web3' look like the AOL of crypto.
Let me sum up some of the salient information and provide some commentary on behalf of the OP.. When saying Crypto, I can’t imagine he’s talking about the entire concept and system; bitcoin, and many alt-coins operate on the premise of supply and demand within the game-theory concept, so these are valuable because they are collectively seen to be of value to a large group of independent actors. These cryptos are acting like a global financial commodity (like precious metals and fiat currency). Coins like Ethereum are distinct in that they act like a low-friction financial service layer which allows full-scope financial applications to be built upon it and take advantage of the lower friction — Layer 1 services are designed to provide capability for Layer 2 services — similar to how TCP/IP is designed to allow HTTP/SSH/FTP type services to function as a mechanism to distribute information, and HTTP offers the capability to provide distributed APIs such as REST and SOAP, etc… Fiat currency, once it is understood, is essentially a proxy mechanism to allow the equitable and infinitely divisible distribution of goods and services. Its value is based entirely on the aggregate belief in its ability to accurately describe the future risk of equitable repayment and being controlled by a centralized government, it provides assurance through the functional capacity of the population contained within the currency’s financial envelope — if all of America stopped working the value of the dollar would plummet because the assumed backing of GDP has eroded and the risk of default of debit skyrockets. Crypto is an extremely viable platform for the storage of wealth as well as providing a low-friction financial transfer platform, but its value as a service is MUCH MUCH less in established 1st world countries where the balance of wealth, power and stability currently reside. Where crypto as a currency really excels is in capturing and catering to the under serviced and under privileged regions of the world — its initial aim should be to capture the long-tail of financial services and erode the foundations of the 1st world capital structures which are based entirely on an unbalanced goods-for-services model that takes cheap labor and turns it into wealth for the already wealthy, or in the case of countries that use forced or child labor — stealing labor and converting it into personal wealth for the ‘elite’.
I mean from a technology perspective that is just so incorrect mate. People make up bogus analogies about how LN is to FTP as Bitcoin is to TLS but that’s just not true though. Why can we not scale the base layer? Could you imagine if we said that about TCPIP?
Did you read what you typed? I for one have not heard anyone yell Go Pack Go at a Bears rally. I've heard FTP though.
Fair Trader (FTP) on Latoken's launchpad. Consider it very-low cap
While Bitcoin may not be the ARPANET of money Lightning certainly reminds me of BBS or FidoNet, rather than the WWW. Bitcoin is still somewhat cumbersome to use for the non-techies. Sending sats or signing messages is like using FTP or Kermit. Is the Internet mainstream btw? An astonishing 37% of the world population have never used it, obviously way less in the developed countries (still up to 20% of 16 to 72 years old). Well, not EVERYONE has to use it for it to be considered „mainstream“ but right now we’re still a tiny minority.
Note the comments here, you are seeing what happens all the time in tech. Someone comes up with some revolutionary idea, and it's met with a tons of whataboutisms and "I can do that now"'s. It's really hard for people to imagine technology beyond what is available now, and it's super underestimated how much people will prioritize convenience and simplicity. The best example of this is the [hackernews comment](https://news.ycombinator.com/item?id=9224) about dropbox, where someone says: > For a Linux user, you can already build such a system yourself quite trivially by getting an FTP account, mounting it locally with curlftpfs, and then using SVN or CVS on the mounted filesystem. Easy, right?
Do you work in Healthcare? I work in IT in Healthcare. A database wouldn't work. The amount of legacy systems and databases that different hospitals use is enormous. Some are written in C++, some Mumps, Some SQL, some oracle, some use TCPIP some use DDP, some FTP, some a simple file drop. It's a nightmare trying to get people with skills to integrate all these different databases to talk to each other or even get a simple feed. So that's why it's Super Revolutionary.
I work in IT in Healthcare. The amount of legacy systems and databases that different hospitals use is enormous. Some are written in C++, some Mumps, Some SQL, some oracle, some use TCPIP some use DDP, some FTP, some a simple file drop. It's a nightmare trying to get people with skills to integrate all these different databases to talk to each other or even get a simple feed
Fair Trader (FTP) via Latoken's ieo page. Work mate introuduced me to it. Not sure what this sub's general consensus is on that exchange or projects on it