https://github.com/cryptcointeam/cryptcoin/commits/master

Their github has not a single update since launch, if thats what you call real development i cant help you.

I dont see CRYPT as a shit pump n dump clone (I believe we are seeing movement here because of fundamental reasons). This is a 2.0 gen x11 pow/pos anon coin trying to compete with DRK. I really think it has long term potential in terms of having a unique mixing algo - http://cryptco.org/Cryptcoin-CryptCast-Anonymous-Whitepaper.pdf.

cheers everybody 

Here is another good example of an attack against a PoS only coin: https://bitcointalk.org/index.php?topic=679791.msg7848188#msg7848188

To make it short they did a doublespend attack on a private fork and then unleashed it to the network, resulting in bittrex losing bitcoins.

The real problem is see with this is, if due to those attack the exchanges get bankrupt it will hurt a lot of innocent people who were just trading their coins there and thats bad for crypto in general...


Peercoin/Novacoin doent have this problem, as they are using the pow blocks to generate the pos hashes:
https://bitcointalk.org/index.php?topic=131940.0
and added centralized auto-checkpointing to it to secure it further (tho their system is still gameable, just harder).

Why do you say Peercoin isnt relevant? Its still the pos coin with the highest marketcap which is forked from bitcoin.

Question...who controls the IPM and the Bitmark Foundation?

I like the idea of guaranteed hash power on the network, but ultimately its still centrally controlled, presumably by you.

Not to say that you will be a bad actor because Bitmark stands to gain a lot more if you are good, but who is to say somebody else in the future does not gain access to the IPM? As the community grows so should the IPM and the Bitmark foundation. Eventually I would expect control of them to expand as well to include more than just you. Especially considering 5% of funds from the IPM go to the foundation, there is constant monetary support for the foundation to grow. I think the structure of how the foundation and IPM operates, as well as who controls it should be very transparent.

majority in this forum is obviously against any regulated companies. FxOpen should instead advertise this in Forex forums, there the situation is contrary; because they don't like to loose money

Except it's not theoretical, and it's not non-rational. Had you bothered reading the links I posted you would have learned that Peercoin was successfully attacked this way.

You don't even need to actually own any coins to attack a PoS coin. You can use coins you don't own anymore, meaning you can't even use the argument "Why would a stakeholder want to destroy the value of his own stake?".

Not the Euro, not the dollar, not the pound. The Euro has tons of issues.

The swiss franc has been one of the most stable of the fiat currencies.  Although it is probably better to buy hard assets. ;-)

Peercoin's PoS implementation has nothing to do with NXT's PoS implementation.

PoS may be broken in one system, but perfectly safe in another.

Just like PoW may be susceptible to 51% attack and successful double spending and selfish mining in Bitcoin, but not susceptible to those attacks in Myriadcoin due to its 5 independant PoW algos.

Up to a point. Nothing at Stake is a two stage thing. In the first stage, selfish forgers forge on every chain they see, to avoid losing fees from picking the wrong chain. In the second stage, someone mounts an attack; one which would have failed if forgers only forged on one chain, but succeeds because of the selfish multi-chain forging. Currently we aren't yet at stage one. Stage two, an actual attack, is therefore currently not possible.

With Bitcoin 51% attacks, there are also two stages. The first stage is to acquire 51% of the hashing power. The second stage is to use that power to attack. The difference is that Bitcoin has actually reached the first stage: there have been entities that could have attacked if they wanted to.

You're right in that the reason GHash.io didn't attack is that doing so would have destroyed their own business, and that's also the reason Nxt forgers don't forge on multiple chains.

Since humans are kind of lazy creatures resistant to change, does anyone else think BTC won't gain any real traction without the presence of financial armageddon in the USD or Euro?  Most people here know it seems like mathematical certainty for those fiat currencies to collapse at some point in time, but not many people are good at estimating how long they kick the can down the road.  Some think collapse is imminent, others cite things like Japan and say you can put things off 50 years or more.

What are people's estimates in this thread for when the bread lines start.  Then an even better question, if you're in a system of collapse with things like bread lines and probably martial law, what are the odds cryptocurrency would be utilized at all.  Until local grocery stores accept BTC directly, it seems like there's a long way to go.

as long as a pos system does not gets the same attention from security specialists as bitcoin i consider it flawed.
security/crypto is not something a programmer can get right without much training in the field

but the main problem (for me with pos) is basic-logic: i dont think its possible to secure a system with itself. bitcoin uses pow: which essentially means you need to get hardware and this hardware needs time to do some work: thats the key. its a physical key which lies outside the system.
my coding experience tells me: it is impossible to build something secure on an insecure base.

I agree you said. But Thailand's economy is not so good, I think it has a little difficult

"Nothing at stake" is in any case a chimera. It's a hypothetical beast that's never been seen in the real world. The idea makes some sense for currencies with a high block reward, but for a PoS currency that doesn't pay interest, like Nxt, the potential gains from forging on multiple forks are tiny, and not worth the loss of security. Remember that in PoS the forgers with the most to gain from shenanigans are also the ones with the biggest stake to lose if the currency does get broken. Upshot is that no-one forges Nxt on multiple forks today, and they likely never will.