To do POS is it necessary to have the wallet online at all times?
Suppose you have 500000 mintcoin in your wallet, does the POS just happen automatically, or is there some setting necessary on the wallet?
Can the wallet be ecrypted?
I am really confused about the whole thing!
It is slightly confusing because it is such a new coin. Here is the deal, you just need to unlock your wallet from time to time. You can encrypt it. As long as you don't move the coins, ie: send them for 20 days, they become eligible to accrue interest. So, for example. I have two wallets. One is for savings, and one is for spending. This way I can put all the coins I want to save in a wallet on a very secure computer and not unlock the wallet, except for 10 minutes every few days to accrue the minted coins. |
|
|
|
Mintcoin differs from POS coins like Peercoin because it's 100% proof of stake in two weeks, making it much more energy efficient.
It's like a bitcoin style version of NXT in that regard, but with a fairer distribution.
Market cap of mint now is 4 million. It will easily get to 15 million once the mining stops in 2 weeks pretty much by which point that will be 20 billion coins on the market.
I feel like I debunked the myth that Mintcoin has a more fair distribution earlier today with this post: https://bitcointalk.org/index.php?topic=491131.msg5416647#msg5416647You have to admit CoinHoarder... hundreds of miners (thousands now) and the MintPal exchange immediately launching MintCoin made it VERY easy for anyone with some BTC to get in on MintCoin at the 3/4 Satoshi range.. I don't see how it could get much fairer than that. The problem is that NXT was only available on one or two exchanges for a long time, and many people did not know those exchanges or properly understand NXT. Those who were closer to the development and had more knowledge of cryptocurrencies probably got in at the right time, but the vast majority of NXT holders have a very minor stake in NXT. NXT is a great concept, and it has future, but as far as scrypt altcoins go, I don't see much potential beyond Mint. It is about as fair as one can get in a PoW/PoS hybrid. The developers have been very generous in giving out the premined coins on Reddit and mintcointalk But I am biased because I did invest in Mintcoin. I looked into NXT but I did not care for the lack of open-source from the beginning and the http interface seemed rather sketchy, but maybe that is just me |
|
|
|
RELEASE - VERSION 1.5This is a mandatory update before block 317000, approximately 5 days from now. The update consists of the following changes: *Difficulty algorithm fixed. It now properly retargets every 10 blocks, with a maximum of 12% down, or 10% up. DOWNLOADWindows Client: https://github.com/stablecoin/stablecoin-qt/archive/master.zipMac Client: Coming Soon Source: https://github.com/stablecoin/StableCoin BACK FROM THE DEADhttp://stablecoin.netI'm sure many were disappointed and confused when I vanished earlier this year, and StableCoin development grinded to a halt. My life's been playing out like something out of a Hollywood movie. I do not want to talk at length about the situation at the moment, but it's been a very harrowing experience. I've been disconnected from the rest of the world for the better part of 5 months and have had a lot taken from me. That being said, it's amazing what can change in 5 months. I feel like I've stepped into a new world. Cryptocurrency has gained more ground that I've ever imagined possible in the timeframe. With it of course, new challenges arise. CoinValidation in particular has caught my interest as I catch up with the latest developments. Anonymity is now even more important than ever. It was one of the driving factors of StableCoin development, and will continue to be going into the future. To that end, one of the key services I wanted to offer when StableCoin launched was a coin mixing service. Such a service would allow users to 'clear' the trail of their money, and even send money anonymously. The gist of it is that you could send, for example, 100 coins in, and receive 100 coins out. This destroys any associations a coin may have, and lends to anonymity. The mixing service I described when I launched StableCoin was, I admit, very poorly thought out, so it will be nixed in favor of a new, revolutionary mixing service. A FOCUS ON ANONYMITY – THE NEW MIXING SERVICEA dedicated master mixing address is designated. This is place that all funds that are to be mixed will be sent to. From here out, we'll call this the master node. When sending to this address, it will be designated as a special type of transaction. All of this will be done through a dedicated mixing tab in the client. These transactions will have an additional data field that stores an obscured version of the address you want the mixed funds to be sent to. The address will be joined with 80 characters of random data, for privacy purposes. For example: r7ru5JaNMugN2GK4mrmVmLpSgTXXCWzeL4dGzznV6YWhxq4K2aM7Tcz6VgUNxaLJ7Jzu9fZYmHZmRE4 T sajaWXsFiQNbH8bzQygYS1UeXqgTRJZQA7The resulting string is then encrypted, using the public key of the master node. When the master node receives such a transaction, it decrypts it using it's private key. The node then strips the first 80 characters, leaving it with the address (the bold part) to send the mixed funds back to. When sufficient conditions have been met, the master node will create a new set of transactions to send out the now mixed funds. These transactions will be signed, encrypted, and then sent over to another node who's job is to decrypt and broadcast it. All nodes involved will be running on the TOR network. By doing it this way, we are able to obscure where the master node it. In a time where privacy is a hot button issue, StableCoin will be positioning itself as a leader in anonymity. For those interested, a more detailed explanation can be found in this topic: https://bitcointalk.org/index.php?topic=353971DESTRUCTION OF THE PREMINEAs some of you may remember, as part of the old mixing service, there were 1.2 million coins premined to act as the basis of the mixing pool. Of course, this caused much anger within the community, with accusations that the money would be used improperly, among other things. 5 months later, these funds have yet to be touched, so I'm happy to have proved those people wrong on those front. However, under the new mixing system, these coins are no longer necessary. Accordingly, these coins will be publicly destroyed, as they were never intended to be used for anything other than mixing. In this case, the 1.2 million coins were created in the genesis block. You might notice this is different than most coins that do their premine in block 1 and onward. This is because there is a well documented quirk within bitcoin that makes the genesis block unspendable. This is because when Satoshi designed the client, he decided not to add the coinbase transaction from the genesis block to the global transaction database. To make these funds spendable, I added a simple bit of code during the initialization of the client (init.cpp). This code adds the genesis transaction to the global transaction database, making it spendable. // Genesis block
const char* pszTimestamp = "June 7 2013, The Times, Prince Philip admitted to hospital for two weeks";
CTransaction txNew;
txNew.vin.resize(1);
txNew.vout.resize(1);
txNew.vin[0].scriptSig = CScript() << 486604799 << CBigNum(4) << vector<unsigned char>((const unsigned char*)pszTimestamp, (const unsigned char*)pszTimestamp + strlen(pszTimestamp));
txNew.vout[0].nValue = 1250000 * COIN;
txNew.vout[0].scriptPubKey = CScript() << ParseHex("0449D77B9B62E0DB1FD6150ECFC5722F31FEE52E585DE31B5AEFAD2CAC415D5698991F8F0B0CBBA7B9F4431BBE79B684876EDFBD369554ACC4182753FA48A3CD80") << OP_CHECKSIG;
CBlock block;
block.vtx.push_back(txNew);
block.hashPrevBlock = 0;
block.hashMerkleRoot = block.BuildMerkleTree();
block.nVersion = 1;
block.nTime = 1370579804;
block.nBits = 0x1e0fffff;
block.nNonce = 2788;
uint256 genesisHash("0x0a59605118489aa9cde58e64210d3d56e246758fbabcd1482e54bf4032545221");
uint256 hash = txNew.GetHash();
{
LOCK(mempool.cs);
mempool.addUnchecked(hash,txNew);
}
{
CTxDB txdb;
txdb.TxnBegin();
CBlockIndex* pindex = mapBlockIndex.find(genesisHash)->second;
unsigned int nTxPos = pindex->nBlockPos + ::GetSerializeSize(CBlock(), SER_DISK, CLIENT_VERSION) - 1 + GetSizeOfCompactSize(block.vtx.size());
CDiskTxPos posThisTx(pindex->nFile, pindex->nBlockPos, nTxPos);
txdb.UpdateTxIndex(txNew.GetHash(), CTxIndex(posThisTx, txNew.vout.size()));
txdb.TxnCommit();
}
By removing this code, the genesis block becomes unspendable, and the coins are essentially destroyed. This is the most eloquent way to accomplish the goal. Bump, currently mining with Stablecoin version 1.5 at sbc.cryptoculture.net Make sure everyone you are running version 1.5 and that your mining pools are up to date. |
|
|
|
That is an interesting concept and worth thinking about: to spend bitcoin as a means of increasing your other bitcoins value...
What is your opinion about alt-coins? I see you have some SXC... what value does SexCoin offer ? Was that donated to you as well ?
I personally have used my initial bitcoin investment from a year ago to get into LTC, WDC, QRK, DOGE, PPC... I see potential mostly in all those except DOGE. DOGE I hold just because it's a childish fad and sometimes childish fads are worth a lot of money (lol).
Any ideas on which coins you find the most potential in?
Yes, I believe trading is the blood of bitcoin. Can't have a strong and functional system without a strong blood flow. Like with anything else there will be alternatives and bitcoin is no different. I have a litecoin wallet but have not movement there. As fast as sxc coins, I believe this has a strong future if managed and advertised well. Think about it, sex is 3/4 of the total internet usage. There is a huge need for this currency. And in my opinion sxc coins should have a value and weight of its own. Unattached to the rest because they fill a very specific purpose. I think people may be willing to pay more for sxc than for Bitcoins in the future. Well, that may sound crazy. I looked into doge but I really have no interest in following. It may be the next thing just because of the hype like you said. But I don't feel like keeping an eye on it. So my list is BTC, SXC, then LTC.  That's an interesting point about SXC but there's nothing sexy in particular about the coin except the name. In other words, there's nothing that really differentiates SXC from other altcoins except for its' name. But perhaps gimmicky names is the easiest part of marketing. Time will tell. But to your point in a more profound way, would be contemplating the trading of sex for cryptocurrencies, ie: prostitution. I would never endorse something against the laws of a persons' residing country but it does raise the possibility that crypto geeks could get laid a lot more... Haha... |
|
|
|
j. System errors
We shall have no liability to you for damage which you may suffer as a result of
transmission errors, technical faults, malfunctions, illegal intervention in network
equipment, network overloads, malicious blocking of access by third parties, internet
malfunctions, interruptions or other deficiencies on the part of internet service
providers. You acknowledge that access to Electronic Services may be limited or
unavailable due to such system errors, and that we reserve the right upon notice to
suspend access to Electronic Services for this reason. [/b]
Consumer law overrides any attempted disclaimer like this. Bad luck sunshine. Although they operate in a dodgy way listing unknown coins there is a reasonable level of functionality that is expected from the customer. The best you would win in court though is your fees. Consumer law? Where was the transaction? If someone voluntarily transferred something that is not money to Cryptsy without any contract, you have no legal recourse. If I mailed someone a gold ring then I cannot sue them for theft. I'm sure Cryptsy has a good lawyer on board. I love the service and I am patient in understanding that they are working out the kinks and I have faith in the service. |
|
|
|
|
Has anyone else noticed that the SBC/BTC and SBC/LTC market is not currently available on Cryptsy?
My SBC balance still shows up in my dashboard balance... I started a support ticket...
Cryptsy has been working flawlessly as of late, and usually issues are fixed quickly but I am curious considering that BigVern is usually very good with communication.
|
|
|
|
Success of NXT depends on the greed of the stakeholders. If they don't give away most all of their coins it could be labeled a scam sometime in the future.
I am very skeptical of NXT for three reasons: One it is not open-source (even though the developers claim that it will be soon), it is centralized, its' development is controlled by the largest coin holders known as "founders"... Will they just give coins away? What is the real value behind the coins since there was no real work involved in getting them in the first place? |
|
|
|
Game changer for where? Globally? Locally?
Currencies like FRK are building strong foundations in their local small city communities, other currencies like doge are solidifying in with the anon trolls for the lulz (ya know, for tipping of course.. like the other currencies dont have tip bots lol), others like btc are working towards big merchants like overstock and trips to space. Each have their own reason to exist.
Yes... that's what I have realized as well. I am definitely bullish on BTC, LTC, WDC, and QRK. These seem to have the most development behind them in terms of utilization for transactions between FIAT currencies across the globe. There is also PPC which is very nice as well. It seems many of the other coins will be specifically used for exchanging value between different online communities for purposes of crowdfunding... since all of these can be converted into BTC at the moment, and BTC is the main way to convert to FIAT, I want to be involved with the coins which have the most potential to integrate with FIAT currencies. I am keeping my eye on Cryptsy's development of its' FIAT integration as well the QuarkPayments and Scharmbeck Worldcoin Financial Services. We are entering the beginning of the end of banking as we know it. The Doomsayers believe that governments will ban these currencies, but they cannot possibly do so unless they become authoritarian like the Chinese Communist Party and attempt take complete control of the Internet. Therefore, in reality, the success of these currencies depends entirely upon keeping the Internet free and making sure governments don't try to fight. I hope at this point, the less authoritarian governments will realize the more they resist change, then they will just fall behind the free world in human development. BTC and cryptocurrencies may become critical in bringing the internet away from its' current wasteful Facebook social networking model to a real social networking that involves free trade and free exchange of ideas. |
|
|
|
You are entitled to your opinion of course as far as what it will be worth next year. How do you arrive at $200? Why not $2 or $2000? There is a lot of speculation in the market which is responsible for price movement, however, bitcoins have value because they are useful. The more useful they become and the more people use them the higher their value will become. My prediction is $2000 in 1st quarter 2014.
My prediction is that bitcoin will continue to grow and be seen as the "gold" standard. Since many alt-coins needed bitcoin to get started, this has been a boon for bitcoin. However, as LTC, QRK, WDC become part of real payment services as well, they likely have higher growth potential. I am referring to things like QuarkPayments, Scharmbeck Worldcoin Financial Services, and the fact that many exchanges use both BTC and LTC interchangeably. Your thoughts? |
|
|
|
BTC ain't worth the shit it's printed on wait till next year till it goes to $200k The care to tip me for they next pic promo? Lol I am a firm believer and not just a fan girl. So I save a little but also spend a little. I want to see it traded and spent. Publicity and constant trade helps big time  That is an interesting concept and worth thinking about: to spend bitcoin as a means of increasing your other bitcoins value... What is your opinion about alt-coins? I see you have some SXC... what value does SexCoin offer ? Was that donated to you as well ? I personally have used my initial bitcoin investment from a year ago to get into LTC, WDC, QRK, DOGE, PPC... I see potential mostly in all those except DOGE. DOGE I hold just because it's a childish fad and sometimes childish fads are worth a lot of money (lol). Any ideas on which coins you find the most potential in? |
|
|
|
|
Hello,
I do have positions in many different cryptocurrencies... I was wondering what people think of NXT? It seems to have a high market cap considering it is not open-source.
Quite frankly, I don't really see the value in NXT at the moment. I have yet to find a good explanation of the system and why it can be valuable in the future.
Regardless, I was hoping someone could send me some NXT so I can start to learn how the system works. I will send it back once I have established some of my own NXT.
I would have posted this in the alt-currency forum but I am a newbie on this forum and am not able to. Thanks in advance.
NXT: 6292712842154690121
|
|
|
|
|
Show Posts
