I've been reading about the issues with Mint, will that affect BC?
If you had a lot of BTC right now, what would you put it into?
Would you put a small amount into Mint or none, but all in BC?
The vulnerability the BC dev discovered only applies to MINT. |
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The Blackcoin dev rat4 who is a talented individual has found an attack which applies to Mintcoin (due to it being pow/pos hybrid that has low difficulty for pow component). Please read it here: https://bitcointalk.org/index.php?topic=551861.0Note the most recent posts where the attack has been executed guys.Yes, do add to this: We have tested the hypothesis we found and managed to succesfully stop PoS from being accepted for over one hour on the MintCoin blockchain. Basicly this means anyone could turn MintCoin into a PoW-only coin for the foreseeable future and due to the low hashrate on the coin a 51% attack becomes really easy with all the known issues that that brings. We have immediatly contacted the mintcoin devs, long before rat4 posted it in the topic quoted above. I am still waiting for a confirmation that they are fixing the issue at hand. I'm investigating the issue. I'm not a dev of mintcoin, but I believe in this community and I try to address issues that I can fix in the code and send a patch to devs as much as I can. (Let it be network connection issues that troubled v1.0, or high CPU usage of v1.4, there were one or two more minor fixes I submitted, but I can't remember now:) ) I saw the devs responded to the issue here, but I don't know when they'll provide a fix (or if they believe there's a problem that need to be fixed -- or if there's really a problem). They usually prefer to do their development behind the scenes, and release their changes in a new version. I'll investigate the issue anyway for my own curiosity. I would like to provide a patch, but it seems like a security issue in the core, so it's not one person's job to fix it. More eyes are needed to validate any changes to make sure the changes indeed fix the problem and don't introduce new flaws. (In fact not only validation, but also code/idea contributions would be needed). I believe the devs are trying to understand the issue and fix it. Still, if enough people are interested, we may create a fork on github and try to create a patch there, which can later be merged into the main client codebase when it's ready. I would volunteer for creating a patch for this if there are enough people who will contribute -- by reviewing changes, committing changes, or discussing security issues. But it has to be a community effort, I won't dare to change core components by myself and then submit an unreviewed patch to the devs -- it would be risky. So what are your thoughts? Anyone is interested in working on this? PS: I haven't read entire https://bitcointalk.org/index.php?topic=551861.0 yet; and I might have missed some posts here if anyone proposed a solution. I'm yet trying to digest the issue introduced in that topic and the blockchain explorer. Nice post. The Mintcoin community is lucky to have you. You actually sound more knowledgeable than the MINT dev himself  However I think it's best that Soepkip and Rat4 leave this one to you guys to try and fix this mess. They've gotten mostly abuse for their work here. Talk about a thankless task. |
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Just thought
If there is a bug, must it be the dev that fixes it?
Since its open source, couldnt just any one with the skills fix it?
Rat4 for example, who says there is an easy fix. He claims he only want to help mint, then why cant he just fix it? (if there are something to fix in the first place..)
Haha. Half of your community are bag holders in denial who won't even admit there is a problem so I am hoping Rat4 doesn't touch it. Especially after the rubbish he has had to put up with today. mr_random why are you here, doing exactly what you just described: "such blatant FUD attempts." All the information about the situation that needs to be shared here has already been shared, you are doing nothing but trolling as usual. You have always been a troll on this thread, nobody is going to listen to you no matter what you say. Leave the discussion to reputable and respectable members of the blackcoin community. So far a new person reading this topic will see that 50% of the regular posters are actually liars if they read the last few pages and then check the blockchain explorer to see the attack in black and white. I used to be a big MINT supporter, feel free to check my post history I was here in the early days. |
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Just thought
If there is a bug, must it be the dev that fixes it?
Since its open source, couldnt just any one with the skills fix it?
Rat4 for example, who says there is an easy fix. He claims he only want to help mint, then why cant he just fix it? (if there are something to fix in the first place..)
Haha. Half of your community are bag holders in denial who won't even admit there is a problem so I am hoping Rat4 doesn't touch it. Especially after the rubbish he has had to put up with today. |
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The reason blackcoin is dropping is a few of them have a majority of all the coins and they had an agreement not to sell more than a certain amount but the thing is someone is selling alot more than they should be
They are dry, cant pump price anymore Take a loot at the trades at mintpal, mostly 2, 10 and 20 BC ROUND orders. They have like an hour trying to dump only 1 btc at 6490. Nobody is buying anymore. They are stuck... desperation bagholders, eh? WTH is wrong with ppl in this thread? I cant believe that if a person finds a possibly big fault in your coin, he demonstrates the flaw, he gives mintcoin devs heads up and after no response posts it out to get the attention it needs you guys attack the person, the coin he has developed and try to make this into a FUD war??? This is not a community I would like to be part of +1. It's a shame people in the MINT community aren't smart enough to realise new people who might be interested in joining mintcoin are likely put off from joining when they see such blatant FUD attempts. I would run a hundred miles in the opposite direction if I was new to MINT and read the last 5 pages in this topic |
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I've just noticed something while going over the block chain. First of all, the attack was really just from 203231 to 203405 before it started to be interrupted by even more PoS blocks: http://mintcoin-explorer.info/chain/MintCoin?hi=203233&count=50http://mintcoin-explorer.info/chain/MintCoin?hi=203433&count=50Secondly, even within this period, there are still some PoS blocks that occur: https://i.imgur.com/LydCerH.pngMost importantly of all. Through the ENTIRE attack period, not a single transaction was confirmed by one of the PoW blocks (aside from the PoW blocks producing their 1 MINT). The only transaction confirmations were done by the few PoS blocks which interrupted. How is this possible? There are way, way more PoW blocks, but none of them confirmed transactions over an entire hour? Is that because PoW blocks cannot confirm transaction during this "attack"? If so, then this "attack" cannot be used to double spend or do any real damage. Right? So it's even worse than we thought. The entire network was frozen with no confirmations, and that was only carried out by the first stage of the attack. Game over. |
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I'm waiting for the wall street whales that will come soon on the exchanges. I think we will see a rebound
For sure. Even if wall street takes 5 year price will rebound before then. Price was $200 before the major china pumps last year and still only 0.01% of people use bitcoin probably even a thousand times less than that. Lots of growth ahead with or without china. |
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Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector
Actually, the only reason PoS kicked back in is because we stopped the attack. One could easily stop the PoS chain for 24 hours+ if he'd wanted to. Hell, even a year is possible. Also, this is a 2 part attack: 1) Make the coin PoW only 2) 51% attack. The second part we did not perform, but we could've done a double spend then. Anyhow, good that the dev finally reacted, hope to see a fix soon! they said they would release a fix if one becomes necessary because theoretical possibilities are not much to worry about You would rather it's not theoretical and he actually 51% attacks your mint blockchain?? You should be careful what you wish for. He reduced the network to relying on almost zero difficulty proof of work mining, a 51% attack at that point is trivial. |
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Boggles the mind how people are dumping right now - a rat could spot a trap better than these people.
Bitcoin and Litecoin are crashing. Tends to drag almost everything down with it. We're only down 2% compared to 24 hours ago, most cryptos are down 10 to 30% |
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Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector
1 hour worth of blocks in the block chain were reduced to proof of work only. And the proof of work difficulty is ridiculously low due to the 1 block reward being no incentive to proof of work miners. A double spend attack in that 1 hour block would be a piece of cake. You're lucky the blackcoin developer isn't malicious or your MINT would have lost 500% of it's value right now... but that could still happen anyway the way the market is reacting to this news |
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We have been made aware of potential security issues for MintCoin recently. As we always do, we're actively looking into these issues if any. If there is anything to fix, we'll do it, and we'll do it the best way possible.
I'd like to take this opportunity to point out to all the people who FREAKED OUT and said the devs are douchebags and losers, that the dev team replied within an hour of all this bellyaching and name calling. People get pissed off when I call individuals out by name for being turds, but you know who you are. Others and newcomers reading this part of the thread should take note of the people who obviously have ulterior motives. Don't be fooled by people trying to scare you. Use your brain and think for yourself. Bottom line, the dev team is on it, Mintcoin is all systems go. Uh what. Blackcoin team emailed Mintcoin dev over 20 hours ago about this privately and Mintcoin dev wouldn't regonise the problem. Even now when it's gone public the mintcoin dev still states he'll fix it if it's a problem. Good luck putting your faith in a dev who can't read the blockchain and recognise what has happened |
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BlackCoin Rewards Card Update!!!I decided to re-post this one more time because we had a lot of troll activity this morning, and I am sure a few people who are interested missed it.I just finished making a cup of coffee when I received this wonderful email! ------------------------------------------------------------------------- Hi redacted,
Thank you for the follow up email.
Based on the information you had provided, we can certainly submit your account request to our issuing bank to see if we can get the reward and incentive program approved. This would need to be a non-reloadable co-branded card program based on your card needs.
Does this work? Would you like to proceed with the account set up process?
Many Thanks,
redacted------------------------------------------------------------------------- Yesterday I sent her a follow up email after not hearing back from her, and I also sent her more information on a few idea changes to make it easier to get approved. I am not going to post my idea changes publicly because it has come to my attention that another community is trying to copy our efforts. Imitation is the best form of flattery  This was a major hurdle to overcome because they do not just submit to the issuing bank unless they are fairly confident it will be approved. I want to point out this does not mean we are approved, but the BlackCoin Rewards Card is closer to becoming a reality! I think I am going to add a little Mint cream in my Black Coffee  I am impressed. Please keep the updates coming, I read this topic daily and somehow missed this! |
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It's funny with so many dishonest thieves all in one place I don't understand how any of you can trust the other. It sure looks like one of you is lying and selling off more coins than they should be
And....ignored. Wow, it's getting easier and easier to spot and ignore the trolls before they get fed and grow into a week-long monster. Yup the two confirmed trolls are - moderndezigns and - mgburke77 |
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We have been made aware of potential security issues for MintCoin recently. As we always do, we're actively looking into these issues if any. If there is anything to fix, we'll do it, and we'll do it the best way possible.
If there is anything to fix? You can clearly see the attack in the blockchain... |
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Can we do this?
While we wait for the press release, there is one thing that needs to be fixed to maximize our ROI.
When visiting BlackCoin.co I immediately notice that the "Buy BlackCoin" section is way below the fold. The Buy BlackCoin section should be above the fold and should be one of the first elements the visitor sees when visiting the homepage. When people read our press release they are going to visit BlackCoin.co, and they might want to buy a few BlackCoins. We have to make it easy as possible for them to get their hands on BlackCoin.
Unfortunately for the average person not familiar with crypto-currencies, using an exchange to buy coins is a daunting task. First you have to convert Fiat to BTC or some other crypto-currency, and then send that currency to an exchange, and then trade that currency for BlackCoin. The average person will never be able to do that. We need a service like CoinBase that will make it easy for the "grandma" investor to be able to buy BlackCoins without the extra steps. We as a community need to come up with a solution for that in the near future.
Whilst it would be amazing I think realistically a Coinbase type service coming on board this early is unlikely. Remember the big problem with running a fiat exchange is regulation (compliance on a day to day basis and then the cost of having the relevant licenses). So I can't see someone here setting up a service like this for Blackcoin from scratch either. Instead I think we should focus on the simple easy things, such as making blackcoin.co as user friendly as possible and also as you say prominently directing visitors towards an exchange. The best route into Blackcoin is probably still by buying Bitcoins. Perhaps we could even have on blackcoin.co the steps eg buy 1 bitcoin at coinbase at this link, then sign up for free at mintpal and place a buy order for 1btc worth of blackcoins. |
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Could someone explain to me how the multipool is unique to BC? And why other altcoins can't have one too?
It works best for an altcoin which is proof of stake only. Besides that first mover advantage is important. Idk why but it just is in crypto. If some new POW algorithm came out which was cool and a coin was based on it it would get some price rise. But the next coin that copies it exactly a month later won't get the same level of exposure and attention on average. A big part of the multipool is marketing. It spreads the word about blackcoin, shows innovation and it shows community spirit. etc. I guess that's why the NXT multipool didn't get much traction for example. |
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Blackcoin Community Press Release Project
Hi everyone! The past few days there have been some concerns with BC price dipping a bit, and other concerns that the Volume has decreased by more than half. I would like to point out that BlackCoin is just over a month old and it has gained a lot of value in a very short span of time.
That being said I do believe more can be done on the PR side of things to start generating some positive buzz around BlackCoin. We need to be different than the other cryptocurrency communities and approach mass adoption differently. Most investors that might be interested in investing in BlackCoin do not go to these forums, nor do they read websites related to cryptocurrencies. So we have to bring the BlackCoin news to them.
I have a writer I have used for over 7 years and he write all my press releases. I am writing down BlackCoin's key benefits and he will then write the release. I use a PR service that will submit our release to all the top business and financial sites. This should be the first step at introducing BlackCoin to the masses.
Everyone here already knows the benefits of BlackCoin so I wont list them all. However, in the press release I want to point out BlackCoin is not an ordinary cryptocurrency. It is more like a t-bill/bond/savings account for cryptocurrency. Whereas Bitcoin and other cyrptocurrency prices fluctuate wildly based on postive/negative news, BlackCoin prices are less volatile and a better overall investment.
I am going to schedule the release for the week of April 8th to coincide with the Cryptocurrency Convention in NYC . Once the press release is live the community can start posting links to the release everywhere we can.
I am going to use my own money to pay the writer and the press release distribution service. The writer charges approximately $80 depending on how many words, and the press release service charges $499+ to distribute to financial websites including Yahoo! Finance, Bloomberg, and the Wall Street Journal to name a few.
If you guys want to contribute and help with the cost you can send contributions here: BQQsUdYaqCGUDhdXPADto1gKwvEA2a92TP
If you have contributed to the project and you do not see your name listed, please PM me so I can list your name publicly.PS: To everyone who donated, you will receive an advance copy on the press release this weekend.Contributors Updated
mrbenjie
PeterPalmBeach
taoway
TheGift73
coinpredator
MuffinMaster
jamieb81
CryptoSteam
artiface
noerc
SunnyIgor
JamesR1
YAdaminer
svojoe
ptic-1
cyrilbf
StuartGT
now2ai8
krjalone
UdjinM6
Luxasd
xolokram
mr_random
altuinx
converge80
Chase
ubba
mrwalker1750
ski92
brammien
Creaxy
metacrap
goblynn
a1phanumrc
Packrack101
bradster1993
------------------------------ Goal Raised!!! BC: 22432I want to thank everyone who contributed to this project and I am looking forward to BlackCoin making some news next week!!!Great work team.  |
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Hi IconicExpert,
Before I send my contribution, I'd like to see some verified credentials.
Please. Bump. I have 1000BC waiting and ready. How about you just send him the BC and trust him? Because this is exactly the reason why there are so many scams around on the Internet. You guys just sent $400 to someone with just a username and know nothing else about him. Or was it posted somewhere? Even trusted members of community have run scams. I see your point though. Next fund raiser, whoever has a good idea lets have the dev or soepkip as escrow. |
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Mr_Random I will have the writer incorporate your suggestions in the press release. The BTC address is: 1PePCJCQ8C7UEcSV3ssxmvm1pbRSqQm3B6
Once you send the BTC I will convert immediately to BC and then add you to the list. I want everyone to be able to publicly track what we raised.
Hi mate, I have sent 0.22 BTC to 1PePCJCQ8C7UEcSV3ssxmvm1pbRSqQm3B6. Since I presume you are going to convert eveything into dollars I wouldn't bother converting them to Blackcoins. FYI it's about 3900 blackcoins at this seconds exchange range. Nice contribution man! I'm hilarious, earlier I quoted myself! Cheers. Just trying to do my bit for the team  |
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Mr_Random I will have the writer incorporate your suggestions in the press release. The BTC address is: 1PePCJCQ8C7UEcSV3ssxmvm1pbRSqQm3B6
Once you send the BTC I will convert immediately to BC and then add you to the list. I want everyone to be able to publicly track what we raised.
Hi mate, I have sent 0.22 BTC.
Since I presume you are going to convert eveything into dollars I wouldn't bother converting them to Blackcoins. FYI it's about 3900 blackcoins at this seconds exchange range. |
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