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Title: NXT to run before it's considered secure Post by: devphp on June 24, 2014, 12:58:10 PM How long should NXT run before you can admit it's as secure as Bitcoin?
It takes courage to answer this simple question and then stand by your own word when the time has passed and NXT is still around. It's been running for 7 months now. Hackers are trying to break it every day. If you believe NXT is not secure, how much longer will you allow it to run to prove it's just as secure as Bitcoin? Let me answer my own question. 1 year. That is, on its 1st anniversary at the end of November I'll consider it as secure as Bitcoin. Your turn now. Title: Re: NXT to run before it's considered secure Post by: Barnett on June 24, 2014, 01:03:23 PM may be it need a long time
Title: Re: NXT to run before it's considered secure Post by: newuser01 on June 24, 2014, 01:08:51 PM It will never be as secure as bitcoin
never ever. Thats my guess Title: Re: NXT to run before it's considered secure Post by: devphp on June 24, 2014, 01:19:32 PM may be it need a long time I need a number for an answer. How long? Title: Re: NXT to run before it's considered secure Post by: longjohnnoob on June 24, 2014, 02:33:26 PM so at the start of november, you think is is not secure as bitcoin and the end of november you think it is. I fail to see the logic
Title: Re: NXT to run before it's considered secure Post by: instacalm on June 24, 2014, 02:50:49 PM It will never be as secure as bitcoin never ever. Thats my guess Hi, how do you come to this conclusion? Do you consider 51% ghash.io-powered Bitcoin secure now? Title: Re: NXT to run before it's considered secure Post by: devphp on June 24, 2014, 02:57:48 PM so at the start of november, you think is is not secure as bitcoin and the end of november you think it is. I fail to see the logic Well, you're just trying to find faults and derail the topic, that's what you are. And not answering my question by the way. Don't be a pussy, answer it. Title: Re: NXT to run before it's considered secure Post by: zachamo on June 25, 2014, 01:59:24 AM define secure..
for one, it will never be as secure as bitcoin, but I suppose you mean practically rather than theoretically; 'who cares about a few thousand when we're working in the billions' kind of stuff. Then there's the factor of relying on the end user to control their security via a passphrase v.s. a file on their machine that needs to be backed up, can be lost, and can be stolen.. Now we're into the juicy stuff.. totally different security models; cracking passwords v. s. hacking machines.. at the end of the day this depends on the end user and their habits - apples to oranges on that front. to answer your question: 1. never. I have had bitcoin for nearly 2 years and never lost or stolen any. I have had nxt stolen. 2. after 2-3 years. once it has had time to mature, hackers push the limits of available technology to attack it, and it's value hopefully grows to raise the stakes. Title: Re: NXT to run before it's considered secure Post by: devphp on June 25, 2014, 04:26:58 AM define secure.. for one, it will never be as secure as bitcoin, but I suppose you mean practically rather than theoretically; 'who cares about a few thousand when we're working in the billions' kind of stuff. Then there's the factor of relying on the end user to control their security via a passphrase v.s. a file on their machine that needs to be backed up, can be lost, and can be stolen.. Now we're into the juicy stuff.. totally different security models; cracking passwords v. s. hacking machines.. at the end of the day this depends on the end user and their habits - apples to oranges on that front. to answer your question: 1. never. I have had bitcoin for nearly 2 years and never lost or stolen any. I have had nxt stolen. 2. after 2-3 years. once it has had time to mature, hackers push the limits of available technology to attack it, and it's value hopefully grows to raise the stakes. Thank you for your answer. As far as I know, there is already a third-party client, Offspring (https://nxtforum.org/index.php?topic=237.0), which offers the same wallet.dat file as in Bitcoin. And, the official client at a later stage will also offer an option of brainwallet or wallet.dat. So that part of user-end security becomes irrelevant. I believe your hack happened due to a weak password. Well, that's user-end security and Bitcoin wallets are regularly stolen with keyloggers as well, like you said, at the end of the day it depends on the end user. In light of that your 'never' in the first answer might change if you choose the same user-end security model as in Bitcoin with a wallet.dat file. What I meant by security is the security of the algorithm, security of the network. So you're giving it 2-3 years to mature, as far as I understand. Fair enough. |