The point I was making was that attacking PoW has a running economical cost while attacking PoS does not.

The difference for PoW is that it is costly to even try to do such an attack. For PoS, there's only the initial cost of the coins. There's no running cost for tries, retries, etc.

Yes.

Your chance of generating a block is 1%, next block again 1%, next again 1%. That's a problem. The high weight of your whole coins are used for each individual small stake, increasing your chance every single time which makes you a lot more likely to find consecutive blocks at zero cost.

Ideally your chance shouldn't be 1%, the secure way is 0.001% since you transferred the money in 1000 small transactions. You should either have a big block of coins (1 big transaction), so you have a 1% chance ONCE, or you have 1000 small blocks, so you will have 1000 chances of 0.001%. You should not have a 1% chance, 1000 times.

AC is pretty fast but I wouldn't claim that it's the fastest out there. Generally the lower the block time, the faster the transactions/confirmations will be, and the lower security will be. There are some others (like UTC) that have speed as their primary selling point.

Haven't read all the posts so it may be mentioned before. Current PoS implementations use some sort of wallet weight as a way to handle competitions for blocks. Wallet weight is basically the amount of coins in the wallet. So if I have a big wallet with very small coin blocks (i.e. I transfer the coins in thousands of small transactions), I have the chance of staking a lot of new blocks continuously with the full weight of my wallet each time. That's the problem.

I think the way to fix this is to change the wallet weight to the amount of the coins in the current block that's being split to stake, rather than the full weight of all coins in the wallet. That would mean that you need a lot of coins AND big coin blocks in the wallet to perform a potential blockchain rewrite attack.

You're right.

Long minimum staking age makes it more secure since in case you want to do a blockchain rewrite attack, you need to have valid private keys with 2 week+ coin age, those are a lot more difficult to come by (as most these attackers just buy their coins and dump it as soon as the coins reach the minimum staking age). It's also more secure since if you miss your chance of rewriting the blockchain, you have to wait again for 2 weeks to retry, rather than a few hours. This gives much better protection.

There's just one scenario: If an attacked had managed to have such a private key and if he managed to do such an attack successfully, there would be less active staking coins to complete, at least in theory, so the attacker will need less coins to manage such an attack.

But in the end, as the security of PoW coins will depend on high hashrates and distribution of them, the security of PoS coins depends on a high amount of coins staking, and their distribution. I've tried doing some experiments on AC, not trying to rewrite the blockchain but trying to see if I could if I wanted to, the most consecutive blocks that I could manage to find has been around ~10. That's better than most other PoS coins but it's nowhere near PoW coins with well-distributed hashrates.

Anyway it's an interesting discussion there, thanks for the link. I think I'll join their discussion.

I updated OP, mostly fixes to links, etc. We're having a good volume today, on both Cryptsy and Bter. Price is ~50% up.

I arranged for a couple of them, but it's good to have more. We need empty wallets running + open TCP 8333 and 60006 ports.

The network could use some help. We've had ~61 wallets active in the past day, that's better than acceptable (and better than a lot of other coins) but wouldn't hurt if we had some high speed and highly available nodes for faster speed. If someone has access to some sort of VPS or dedicated server, it will be useful to setup an empty wallet, just to help the network sync faster. There are ~11m (5% of market share) coins staking, so our security is good (better than most other PoS coins).

We're working on a couple of ideas (all unique and never been done before in crypto, and all really have practical utility), I can't list them as our resources are limited (financially), and if we announce them, then other coins who have lots of BTC in their pockets for development costs can probably beat us in implementation speed.

The reason we used MediaFire was its huge popularity in Asia, and the ability to track downloads easily.

Sure, I will upload them on another website tomorrow.

We're working on some cool things behind the scenes.

I asked the person who made the mac wallet (instacash) to come and see if he can figure out what's wrong, clearly there seems to be an issue as a couple of people raised concerns while windows wallets have been working well.

You need to create a .conf file. There are lots of guides online:

https://en.bitcoin.it/wiki/Running_Bitcoin#Bitcoin.conf_Configuration_File

All clients are the same. You can always use Google to learn how to do something with bitcoin clients and it's gonna be the same for any client. Adding nodes to bitcoin/altcoin clients is a very well explained concept everywhere on the net.

Exactly. If you're having issues, please add nodes from that link.

The windows wallet says version 2.0.0.0 because our dev forgot to fix version number, however it's fixed in the mac wallet (we will release a windows wallet with the right version number soon). As long as you download the wallet from the link on the first post, it's the latest version. The latest wallet was released a few days ago so if your wallet is older than that, you need to upgrade.

The minimum stake age is 14 days, so you need to wait until your coins are mature enough to stake. AC is now pure PoS, and you can see staked blocks on our block explorer:

http://chainz.cryptoid.info/ac/

Sorry FlyingMongoose, someone beat you to it but I'm sure it's been a great learning experience as this was your first mac wallet.

We're in contact with Bter. I will let you guys know when the issues are fully resolved.

I contacted them that everything is OK. Hopefully it will be re-enabled soon.

If you stake, the new generated coins (and the ones used for staking) need 14 days to mature. So once all your coin-blocks stage, you need to wait until you have some new mature coins that can stake.

I've discussed this at length here before. You can search on how PoS blocks are generated to see why this is happening.

Thanks for this.

Once we confirm it's working properly, I will add this to the OP and send the bounty on your way!