Bitcoin Forum

I've seen a lot of newer members down here in the 'wild-west' Alt-Currency board.

There have been a few alt-currencies. IxCoin, I0Coin, and SolidCoin. Now, it's tempting to get in on a new currency whether you want to be an 'early adopter', try out a different system, or make a few quick BTC from speculation. Solidcoin however has made the boldest claims.  CoinHunter/RealSolid (the only SolidCoin programmer) promises a lot of things.  But before you jump in, here are some things you should know:

-------------
Solidcoin is run by ONE PERSON. THAT ONE PERSON IS INTRODUCING ONE-MILLION PREMINED COINS AND TAXING MINERS.

The 'official' Solidcoin can be shut down at the developers whim - and has been.

CoinHunter has provoked attacks on his own chain. Due to an alleged successful attack on his testnet, CoinHunter shut down his chain, halting transactions for all SolidCoin users.

Solidoin's developer has admitted to using malicious propaganda to influence Solidcoins userbase.
-------------


You may still be interested in some of the designs in SolidCoin - that's fine!  There is an alternative completely OPEN SOURCE client floating around here, and I believe another one is in the works. Ask around for more details about them.

I highly suggest if you're interested in SolidCoin or any other p2p project that you promote an open and free environment.


UPDATE: Is this a joke?  I -hope- so.  In either case after reading this, I am NOT installing ANYTHING CH/RS releases:

https://i.imgur.com/ajoa8.png

You forgot that CH arbitrarily inserted 1K phoony blocks between block 29000 and 30000, allegedly "to pay bounties" (to himself I guess... sort of "Solicoin God's wage").

With a full currency being run by one person, would this be the only true solution to be able to stop a 51% attack from happening, since theoretically, that one person could stop the machine until they are back in control?

I am super over simplifying this I think, but I still wonder generally

At the point where one guy is running a currency, a 51% attack is the least of your concerns.

Or you could look at it as:
The one person in control always has the power obtained by a 51% attack and they can do whatever they like to the currency with no recourse for the  users.

Also, why would anyone bother "taking over" a block chain that has already been taken over?

Ah, so depending on your perspective, is this really SolidCoin's selling point?

RS has taken most of the suggestions that have been given to him by the "real" solid coin community pretty seriously. He's not taking this "one man" approach as this post would like to make it seem. We have been in discussion in the solidcoin forum on how to seriously improve the currency so that it's perfect, and he has been pretty receptive.

As far as him working by himself, that's not really something he can control. He is always open for help from others, and has stated numerous times that he would like to have a team, which is part of the reason why the "tax" is going into effect. Programmers don't like working for free you know :).

The entire community was behind it. It's either that, BitcoinEx's attack.

But I thought solidcoin was basically unbreakable by CH's own words.

Apparently it will in version 2.0. But we all have to wait and see don't we :).

As a matter of fact, "shutdown of solidcoin" was not successful. Which, incidentally, disproves the thesis that all of the community was behind it ;)

It will be for sure, running only at CH's LAN without external internet connection, it will be safer than ever. It can run for millenniums without being ever hacked.
 ;D

Good point: I still see blocks being generated.

Maybe I should rephrase the statement, and say the VAST majority of the community signed off. There is about 4gh's (4x6990s) at the moment mining, and these people have already been told those coins are irrelevant and won't be counted by anyone in the community.

Get more info on the "hash power" here...

http://solidcoin.kicks-ass.org/graphs/graphs.html

No. Just looking at his track record of failing and having to put band-aid after band-aid on it tells me he will do the same.

More propeganda. Infact, SolidCoin24 (the last SC exchange now?) wanted to let it's customers decide which fork to support.  RealSolid threatened to remove SC24 from the main website if SC24 didn't comply.

"The entire community"?  There was a 5hr notice.  For a project that is supposed to be global, how is 5hrs enough time to poll "the entire community"?

So the statement "The entire community was behind it " is blatantly false.

Interesting how most SC supporters think they can speak 'for the entire community'.  Only if it's ruled with an iron fist.

By "real" solid coin community, you mean the people who agree with him. People who disagree with him are labeled as "trolls".


People who have mentioned flaws in Solidcoin have been labeled trolls and then banned from both IRC and the solidcoin forums. That is not "open for help from others", that is quite the opposite. Perhaps you are right that he cannot control his reactions to criticism. Currently, I would not bring any bug or design flaw to CH's attention. I would prefer to be able to obtain news about SolidCoin than risk getting banned for "trolling".

Also, some programmers don't need to be paid for their efforts, they are happy to volunteer their work. You may have noticed a few of them put together an entire operating system ;)

P.S. Solidcoin was not "shutdown", it was forked.

Well once again your statement is false. I'll count them solidcoins valid.

So let BitcoinX attack, steal everyone's money, and have the PR mess be even 10x worse huh? He was in emergency mode as far as I am concerned, and as a Solidcoin holder I and many others supported the move... And judging by the graphs I posted, there has been little resistance from the community.

+1 I saw this too. How do you explain this "solidcoin supporter"?

Even after he has touted how great solidcoin is and safe and secure it is?

That is BS. You are starting to believe your own misinformation as well as his.

EDIT: Why would the mainstream or anyone with a head on their shoulders invest into something that is so vulnerable to attacks, needs constant updates band-aids, and shuts down on a whim when the first mere threat of an attack come to pass.

What happens the next time another attack threat should surface? Restart block chain? Fork chain? Shutdown?

Fix'd  8)

I want alt currency's to have a future so people can have choice and true freedom.

EDIT: I have lost MUCH MORE with Bitcoin than I ever did with Solidcoin just to let you know.  ;)

It might be preferable that they continue to support Solidcoin, lest they be mistaken by others for Bitcoin supporters.

I think I am more of a Bitcoin supporter than 90% of the people in this thread. Please...

You support a decentralized currency?

Kinda hard to tell.

Just sayin.

You hide it well.

I support all cryptographic currency's. We should of had at-least 10 by now all with their different traits, ideology's, rules, and protections, and let them duke it all out in a totally free market. That is my dream, it's a shame however that people are on here wasting time flaming each-other instead of working on development of new currency's...

Oh really, that's why if you go to TweetForum, and you start posting, I pay you in BITCOINS just to hear your opinions. Yeah that's 0.25 BTC per 100 posts. I hide it "so well" that many of my members are now earning Bitcoins just for talking about Bitcoins.

That's not all I am doing that is Bitcoin related at the moment, I have several projects I am working on, with the latest one I just finished called http://bitcoincloset.com . I am a die-hard Bitcoin supported, and I can assure you that the majority of people in this thread have done way less for Bitcoin than I have...

Really?

Coinhunter is one of the biggest promoters of flaming and falsehoods.

But if you want to help, great!  Maybe you can bend CH's ear and get him to support this as well.

The SolidCoin community can start by publicly denouncing CH's "Bitcoin to Collapse" propaganda.  You know, the lie he paid bounties for people to spread.

I'm waiting  ;)

Anyone notice how when the info pushes SC supporters into a corner they turn a deaf ear? Just look at this thread and see how often FlipPro chooses not to respond.

You pay people to post on forums and you sell T-shirts. I am sure everyone is very grateful for your efforts in these areas.
In threads about forum threads and in threads about clothing threads we will respect your experience in these areas.

As I said I have many projects currently in development(including a multi-payment currency exchange system). What do YOU do, other than accuse people of fallacy's you yourself are responsible for.  

I am not sure if "behind it" and "signed off" are the same things.  I think the VAST remainder of the supporting community realized how terribly such a potentially good chain was managed.  I for one didn't give up on SC because of it's flaws.

Right now I am pointing out the failures of Solidcoin's development community. I am glad you brought up fallacies though, are you familiar with Ad Hominem? I don't care what you have done, what you are doing, what you will do, who you will do it with or who you will let watch because it excites you. When you post something that is demonstrably false, what you have done in the past and what I have done in the past has no relevance to whether or not your post was incorrect. 

Perhaps one of your projects will yield fruit one day, but astroturfer and t-shirt salesman probably should not have been your first claims to fame. ;)

total lie being spread by a hacker who attacked this entire community. He never shut town the testnet as solidcoin DID NOT EVEN HAVE ONE.

perhaps you should learn some facts before spreading fud.

Some of the other things you said are true, about a CPF and such, but this is a coin going in a differnet

Added to main post:  Take it how you will

https://i.imgur.com/ajoa8.png

Do you have any evidence for this Claim ? Blockexplorer link ?
Also, please explain how its possible to insert a "bounty" into a live Blockchain,
because i would like to give a little Bounty to myself.  ;D

One person cant "shut the network down". Unless they get the agreement of the community there is very little they can do.

I havent seen the open source sc shutting down have you ?

What is their take on it ? Will they continue with the old broken version after everyone leaves ?

We will see once the new client is brought out exactly what the real support is.

Do you think some (maybe faked) lines from IRC out of context do mean something to anyone but trolls? And where did he write he likes it? With such posts you only show how broken the BTC community is... Not good for BTC newbies who read this forum ;D

Me too... out of this whole load of alt-chains, solidcoin was the only one I could see to be doing something different, improving, unlike IX/I0 that have nothing to show away from bitcoin. Well... we got fooled.

I guess by "band aid after band aid" you're referring to the two releases which came out while the blockchain was being attacked? Sure, the initial patch had a flaw, but the follow up patch came out and addressed it pretty much right away. I thought they were an extremely impressive example of fixing code under extreme pressure and I really respect the dev for pulling it off.

Not sure why everyone in this thread so mad.

Look at you all, mad as hell.

Want to know why everyone rages on Solidcoin all the time and tries to provoke Coinhunter into saying something else dumb?

1: They're Trolls and he loves to feed them.
2: They're afraid of Solidcoin, deeply afraid.

But why would supporters of one Cyptocurrency be so afraid of another? Surely if it's so pathetic and full of band aids it poses no threat, right?

Well, the Solidcoin blockchain is paused as of V1.04. There are many reasons for this, but ultimately it's because Solidcoin was not quite ready to stand up to the full force of it's attackers. I should explain that nothing is actually "turned off" in Solidcoin right now, in fact the network is still running quite happily on the very small amount of hash power still remaining. The ability for the lead developer to simply "kill" the project on a whim was removed from Solidcoin (it's still there in Bitcoin), so actually people are free to carry on mining, they just have just chosen not to. This is because they know that Solidcoin 2.0 is coming and will more or less pick up where 1.04 left off. The community and the exchanges all got behind this decision and it would not have been possible if they did not. We all wanted a stable platform which is immune to attacks, and simply carrying on running the old Bitcoin code, however modified it is, is not the way to get one.

But guess what, Solidcoin is based almost completely on the Bitcoin code, which means it is also vulnerable to the very same attacks that SolidCoin is feverishly trying to protect itself against.

I can't imagine how much more difficult this type of decision would have been on a more established cryptocurrency with many thousands more users and many more millions of dollars at stake. The sheer volume of people to educate about the decision would make doing this kind of thing in Bitcoin a complete nightmare, so I suppose if any major attack did occur, the developer would have to simply pull the "kill" switch and stop the network dead. However I can't imagine that being much better for the users to be honest. Solidcoin is in a fortunate position of being small enough to make these much needed improvements right now without too much disruption to its users. Bitcoin is a victim of it's own success and is now too big to reasonably take such drastic measures.

The only thing stopping people from attacking Bitcoin is that it's so much more expensive than Solidcoin and has so much more hash power, making the attacks much more expensive. This can and will change in the future, yet nothing much is really being done by Bitcoin to protect itself from these attacks, which get more viable by the day.

But I guess attacks are the least of your worries right now if you're a professional Bitcoin miner and / or hoarder. There is an even bigger threat looming than any would-be attackers, the price. Right now Bitcoin is dipping under $5 on a regular basis, but the total hash power and difficulty has not gone down significantly since it was at $15. Some miners surely must be running at a loss already and hoping the price will recover. It won't be too long until the majority of miners are in that position and are being faced with their energy bills. All it takes in that situation is a few big miners pulling out and selling to seriously harm the price. Imagine Wyl-E-Coyote running off the end of a cliff, but he only falls when he eventually looks down... If enough miners quit, it starts a chain reaction and in a very small amount of time you're left in a situation like Namecoin, with the hash rate so low and difficulty so high that it takes days to mine a block, and so many blocks to the next difficulty that it takes months to get to the next recalculation.

You don't even need a co-ordinated 51% attack for that to happen, all you need is the price to go down and for miners to realise they aren't making any money and quit.

Even before Solidcoin paused it had addressed many of the issues with the difficulty calculation in Bitcoin. The difficulty is calculated far more often, and the mechanics of raising and lowering are vastly improved, allowing difficulty to follow hashrate much more effectively. You can comfortably whip out 75% of the hash rate in Solidcoin and it adjusts down and gets block generation up to fuill speed within a few hours. We know this because it has actually happened. This is a bit of an unknown for Bitcoin. So far, the hash rate for Bitcoin has only really risen then reached a plateau. If and when there is a massive drop-off in hashing power in Bitcoin, I think we'll be waiting a very long time for anything to happen that addresses it.

Which leads me back to my original question, why are people heavily invested in Bitcoin so afraid of Solidcoin? Because it's better.

Because Solidcoin is a scam.

Try to keep up  ;D

Edit: No, really though.  When CH crossed the line about framing others with CP if they disagreed with them, it's a little more than 'Oh SC haters are trolls'.

CP?

But still;

When Zen Cart forked osCommerce they didn't come out spreading FUD about the project they forked.
When Joomla forked Mambo they didn't come out spreading FUD about the project they forked.
When SMF forked phpBB they didn't come out spreading FUD about the project they forked.
When IXCoin forked Bitcoin they didn't come out spreading FUD about the project they forked.
(...)
It's nearly a constant on all Open Source world, eventually a project gets forked, a new line of COOPERATIVE DEVELOPMENT (THAT is the use of Open Source, not a f**ing vanity fair)

When Cracked/ScamCoin came out its sole forker hop into others' work (Bitcoin), that's ok so far, but promptly started a DEFAMATION and an attempt to spread FUD about it, promising to be "fixing bugs" whereas was opening holes.
I guess this already reached rock bottom, so there's no need to keep digging.

Now go get your "FUD spread bounty", make sure you get paid in scamcoins 2.0, looks like scamcoins 1.x are worthless now.

+1

It depends of where you're from; if you're portuguese it means trains, as that's their initials... if you're not, than it's probably about child porn.

I stopped reading when I read that because that's not even close to true. CH screwed up the Bitcoin code, which made it vulnerable to attacks that Bitcoin *does not* suffer from. He screwed it up because he was tinkering with code he does not understand.

And I thought it meant "can't pee".

Which flaw came from the BTC source? Are you talking about the time travel attack? I think we should send Artforz a few hundred SolidCoin's for discovering and fixing that issue. ;)

EDIT: GOTO EDIT

Okay, I think enough has been stirred up.  I'm sure all the newer users who were gonna see this have.

Just be careful.