Bitcoin Forum
July 09, 2024, 02:45:27 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 [201] 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 ... 334 »
4001  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 11, 2014, 11:00:51 AM
Is it possible to implement the Ethereum idea in Nxt?
Is there will to do so?

Yes - although in Nxt it would be handled as a feature that is "above" the basic low-level transactions (which are kept much simpler to keep storage to a minimum and to have "normal" transactions work as fast as is possible).

CfB has already proposed a similar low-level language and James also posted quite a bit on this a few days back.

Whilst it is very interesting from a software engineering angle to have such a powerful scripting concept it still remains to be seen how useful it turns out to be "in practice" (one reason I think it might actually be better to let Ethereum do the R&D for us).
4002  Alternate cryptocurrencies / Altcoin Discussion / Re: Transparent mining 2, or What part of Legacy should be left behind on: February 10, 2014, 01:58:27 PM

Yes - I guess something along the lines of using AE to trade precious metals might be a better application (although not being a PM trader it doesn't appeal to me personally).
4003  Alternate cryptocurrencies / Altcoin Discussion / Re: Transparent mining 2, or What part of Legacy should be left behind on: February 10, 2014, 01:47:17 PM
Maybe non-critical ones?

And this is something that makes me wonder about the value of the AE. If we aren't going to trust it for "time-critical" trades (which would be pretty much *all* trades if you are a day trader) then what exactly are these *important* but non-time critical trades that it is needed for?

(some concrete examples would be very helpful here)
4004  Alternate cryptocurrencies / Altcoin Discussion / Re: Transparent mining 2, or What part of Legacy should be left behind on: February 10, 2014, 01:42:49 PM
Luckily Nxt can't provide HFT so we shouldn't worry much. Time critical trades will still be done off-chain.

Which then begs the question if all "time critical" trades are going to end up being off-chain (therefore centralised) what exactly is the huge benefit of even having the AE?

(sorry to be so negative about AE but I am still struggling to see why it "so great")
4005  Alternate cryptocurrencies / Altcoin Discussion / Re: Transparent mining 2, or What part of Legacy should be left behind on: February 10, 2014, 01:41:08 PM
You can;t just arbitrarily block inclusion into blocks...the only way is if someone one out bids you in tx fee....and if they do you can wait for the next block which can be only the next second.

I am pretty sure you can decide which txs you are going to include in your block - the fee is simply to encourage to include as many as you can but if you don't want to include one or more particular txs (and instead include others) then I don't think anything can stop you.

Of course TF does help and it is likely such txs would get included in a following block, but, if we are talking about "matching an order" then a forger could simply include their own tx in preference to another (meaning that you might have just "missed out" on your buy/sell to that forger even if your tx was actually broadcast *first*).
4006  Alternate cryptocurrencies / Altcoin Discussion / Re: Transparent mining 2, or What part of Legacy should be left behind on: February 10, 2014, 01:34:12 PM
I'd like to add that this "power" is very valuable. If u forge the next block u decide what orders to include into it. And this decision will change the market.

Actually this is something that concerns me far more than the initial distribution or the PoS reward for forging.

If AE bid/ask tx's can be arbitrarily included or not in a block then I can see a lot of manipulation occurring in this part of the system (another reason that I am not really hooked on the whole AE thing).

This of course could be compounded by huge stake holders "colluding" to say hold back orders.
4007  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 01:16:23 PM
So why does nxt have this problem too? Is this something inherent to crypto currencies?

Can it be fixed?
Will it be fixed?
What should exchanges rely on instead of transaction Ids / transaction bytes?

It is due to the way a tx is constructed and hashed - if the signature(s) do not include every byte of the transaction then it will always be possible to modify the tx and if the hash is of the entire tx (not just the signed part(s)) then there is not much you can do about it apart from:

Don't rely upon the tx hash (something Mt. Gox should never have been doing in the first place).

Nxt does actually make things simpler in that you can just use Account #s (you don't have to deal with UTXOs).

An exchange should only display a txid *after* the tx has been confirmed (until then it should just be displayed as "unconfirmed" with no hash at all) and even then the txid should only be handled as "descriptive" data (i.e. not indexed for any important purpose).
4008  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 01:08:55 PM
Delete this asap  Grin

Just as those who "couldn't resist" trying to "score points" from the FUD - I can't resist keeping the "told you so".

Grin
4009  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 01:01:47 PM
Nxt exchanges shouldn't rely on transaction ids though. Coz ids can be changed in a way similar to Bitcoin.

So - there we have it from CfB - Nxt has THE SAME problem as Bitcoin.

Can you please stop the stupid tweets now as I can see CfB's statement being used as the "payback".
4010  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:47:20 PM
Nxt exchanges shouldn't rely on transaction ids though.

Now what was I saying about "glass houses". Wink
4011  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:39:53 PM
So something like a cancelling option within 10 seconds could be nice if this is wanted by the community.

Easily added into a client (i.e. just don't broadcast the tx until 10 seconds have elapsed with a button to cancel and a countdown) - no need to muck around with the protocol for something as simple as that.
4012  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:31:23 PM
There is one rule: what can be done, will be done. So, if we don't do it, others will eventually.

Hmm... "those that live in glass houses would be advised to not get into the habit of throwing stones". Wink

And +1 for the second meme with the little child in it (very clearly illustrates the maturity of it).
4013  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:25:27 PM
The Nxt community is so defensive with its marketing strategies sometimes you should come up with a little more aggression (positive aggression^^).

Am not so much against being aggressive in marketing - but I think there is a bit of a difference between that and using FUD (even if that FUD originates from what was once the largest Bitcoin exchange).

I don't see that as "positive" but instead quite negative (in the same way that many political ads are constructed).
4014  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:23:00 PM
I'm reading something called a 'fork'. How can I know I'm on a fork?

Best way is to either post your last block info (block # and the % difficulty of it) into this topic and someone will most likely be able to quickly let you know (other signs are that you aren't getting new blocks for a long time or that you are forging many blocks in a row despite not having a huge amount of NXT).
4015  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:20:41 PM
Raising awareness.

IMO that is the *wrong* way to do it - and is only going to motivate other coins to start posting FUD memes about Nxt in retaliation.

You *reap* what you *sow*.
4016  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 12:18:02 PM
We should publish that!

Why - so we can look like FUDsters along with Mt. Gox?
4017  Alternate cryptocurrencies / Altcoin Discussion / Re: Transparent mining 2, or What part of Legacy should be left behind on: February 10, 2014, 11:58:15 AM
Lets discuss after a month.  Smiley

No worries - am sure we'll see some interesting ideas coming out once the AE is live.

I guess I am just a little more skeptical than most about its benefits other than removing the reliance upon 3rd party servers/DBs to store information (which in itself of course is a very clear benefit).
4018  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 11:50:52 AM
catcoin is safe too....

I very much doubt that, however, again people THIS IS NO NEW BUG - it was known and even written up in the Bitcoin wiki for *years* (even *I* was aware that tx hashes could be changed by changing tx information without invalidating signatures and I am no great expert).

Mt. Gox has done everyone a big disservice here with their bullshit press release that has basically led to a FUD storm and panic sell-off.

4019  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 11:48:04 AM
#BTC and other alt-coins based on it's protocol are having trouble.

That is not true - the "problem" has been known since 2011 and is only affecting exchanges that use tx hashes incorrectly.

Don't spread FUD please.
4020  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 10, 2014, 11:24:05 AM
What's this bitcoin bug i keep hearing about? Just heard and it's everywhere.

I think people are getting too excited about it - it's not a bug that really affects anyone except for perhaps exchanges who are relying on the tx hash to check whether a tx went through or not (if you are using bitcoin-qt this wouldn't affect your balance at all).
Pages: « 1 ... 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 [201] 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 ... 334 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!