No. Those coins were created using only 1 block and TX. They cannot be traced and would have gone unnoticed had I not checked the block explorer.
Hidden premines, balance /supply altering hard forks, double spends.. Call them what you will. They all qualify as being counterfiet coins/ currency.
Now you got me curious HT  I will take a look. I see the usual glossy identical altcoin website and press releases for standard "quick use" coins, in this case an off the shelf X11 clone. The block explorer you linked to appears to choke on that address and return the default link to genesis block. If you tell us more about the TXid you are concerned with perhaps we could say more. Otherwise, I put too much time in already  Of course double spends and forks are possible, but additions to the money supply that aren't public seem impossible to me. Correct me if I'm wrong please. Here is what the network runs for block value: int64 static GetBlockValue(int nBits, int nHeight, int64 nFees) { int64 nSubsidy = 0; if(nHeight<=1471) { nSubsidy = 80*COIN; } else if(nHeight<=38912) { nSubsidy = 40 *COIN; } else if(nHeight<=40352) { nSubsidy = 80 *COIN; } else if(nHeight>40352) { nSubsidy = 1 *COIN; } return nSubsidy + nFees; } |
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BTC was somehow good as idea but the centralized exchanges are ruining the whole system.
All exchanges for every commodity traded on earth from equities to metals to public coins are centralized at the moment. the BTC philosophy is based on other things, right? De-centralized services The currency is decentralized. The exchanges are not. I agree that decentralized exchanges will be a game changer, but they will only be possible using crypto-tokens and so will only be truly decentralized for exchanging already decentralized asset classes. Look into atomic transaction protocols, that is how they will work. We are getting closer  |
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I guess you just learned about POS huh? Keep reading , you might learn a thing or two. I've been here long enough to see noobs like you come and argue as if they found a "flaw".
If you want to discuss some proof of stake algorithms, I would recommend: 1) doing so in an appropriately named thread 2) actually naming or pointing us to the algorithm you wish to discuss |
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It's not that it is not safe anymore, it never was safe to generate an address using a browser based generator downloaded from some site. A couple of sites have stood the test of time and are more trusted than others, so they might be ok to use in OFFLINE mode ONLY, and remember to clear all browser cache afterwards.
I cannot fully grasp what "dangerous implementations" and "no cryptographic security" means, but "have never been reviewed by a third party" is easy enough to understand.
1) There is no offline "mode". Either you are isolated or not. 2) You will find most software needs to be downloaded from some site. |
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Does anyone know of an app or script or something that will generate private key / paper wallet from a series of dice throws?
Sorry to be that nitpicker, but: a private key needs no work to generate, as it is simply a random number. You don't need an app or script. However, you will need to use some software to find the corresponding public key and address. |
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The coins are public. I didn't look for more than 2 minutes but I found that basically all of those coins were issued in the first 28 days, followed by infinite 1 coin per block inflation. I'm not going to claim this is fair, or defend that choice, nor the people you mentioned, but I am going to claim that at least participants are able to check the money supply. That is an improvement over some legacy systems people used where nobody knew how many units were issued in a given day, how many were outstanding, or how many were transacted. |
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You do not understand anything in the cryptoworld.
Miners - is idiots who spend energy on the air.
Public record in blockchain can be done without spending electricity. it's called POS.
Proof of stake mining is also sometimes called mining. If there is a particular algorithm you like (there are several out there) let us know and we could have a better conversation. |
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[snip]
Haha, it's an expression. That SPH implementation is pretty shitty. Skein-512 is cake to implement, though.
Tell me more Do you refer to the efficiency in terms of hashes per cycle? Is there a better reference implementation you would recommend looking at? |
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Greetings miners -
We have now been chopping LOG for three months using only CPUs. The algorithm is pure double Skein. Is there any other coin that can claim pure CPU mining at this stage?
Thanks --
funkenstein the dwarf
Just because the coin isn't worth anything doesn't mean it's impervious to better mining techniques - just that no one cares. True indeed. However it appears there are people who care about hash functions and cryptography. Hence the experimental cryptocurrency. My goal in this thread is to learn something about the Skein hash function and it's applicability to proof of work consensus. I am hopeful woodcoin will help encourage folks to study this problem. What version does it use? I know Skein forwards and backwards. Thanks for your reply! It uses skein512, in particular a C implementation written by Thomas Pornin. I believe this is the same implementation used by many other coins which use multiple hash functions but in this case the proof of work function is skein512(skein512(block header)). Er, just curious.. do you really know Skein backwards? |
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Now there is only large corporations in gold mining.
Why do we need such corporation for mining Cryptocurrency?
In order to make a transaction in a public currency, you need somebody to record it and make the record public that the transaction has occurred. The people who do this work (recording the transaction and making it public) are sometimes called "miners". |
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Why would a man need to waste electricity on mining? There are already many Currencies without this necessary. So why?
Do not be fooled, it's true.
Miners now look like idiots who came to California with a pickaxe, when all the gold has been extracted.
Discuss/
Big difference: gold can be transacted even if there is no mining going on. Bitcoin can't. |
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The beginning encodes some metadata, like a version id; so you shouldn't expect the first two characters to be very random. But if the software you're using generates keys beginning with 5 instead of L or K it is outdated and producing keys which will result in significantly more data-size in your transactions.
I would recommend avoiding any browser based key generators. Many of them have dangerous implementations which provide little to no cryptographic security at all, most of them have never been reviewed by a third party.
Wow, this is a bombshell. Do you include the bitaddress.org project in this (run on an offline computer of course)? |
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BTC was somehow good as idea but the centralized exchanges are ruining the whole system.
All exchanges for every commodity traded on earth from equities to metals to public coins are centralized at the moment. |
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of course this is possible but have we more power than the banks?
Banks wouldn't exist if Bitcoin or any other crypto took over. Thats delusional. Even if Bitcoin become mainstream, big big big big players (im talking Rothchilds and friends) will still have their banks and dollars around, and will not let the system collapse if it weakens their wealth. They will probably come up with a new fiat or something. Yes ideally we should live in a bankless world but I dont see it happening anytime soon. I don't see how that's delusional, I meant if Bitcoin replaced fiat, I don't see how banks would seize to exist. That will most likely stay around for loans but that's going to be pretty hard if loans were to be given out in Bitcoin. The possibility of that happening is extremely slim, countries(governments) wouldn't want to live in a non-corrupted world. I think someone has been sniffing too many meat fumes.  Show me one crypto currency that isn't digital fiat and/or how it cannot be manipulated using the bankster's time proven methods. And wtf about our current state of crypto affairs gives you the impression that we are free from corruption ? In a public coin, the money supply is public. That eliminates monetary supply fraud such as counterfeiting or otherwise creating currency without the knowledge and consent of all participants. It doesn't eliminate all forms of corruption of course. |
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Greetings miners -
We have now been chopping LOG for three months using only CPUs. The algorithm is pure double Skein. Is there any other coin that can claim pure CPU mining at this stage?
Thanks --
funkenstein the dwarf
Just because the coin isn't worth anything doesn't mean it's impervious to better mining techniques - just that no one cares. True indeed. However it appears there are people who care about hash functions and cryptography. Hence the experimental cryptocurrency. My goal in this thread is to learn something about the Skein hash function and it's applicability to proof of work consensus. I am hopeful woodcoin will help encourage folks to study this problem. |
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Hello lads and ladies! We're doing some market research as we're working on a new kind of cryptocurrency that will guarantee the stability of a fiat currency, i.e. $, free near-instant(within seconds) transactions/payments, decentralised, easily traded to and from fiat at all times, and of course anonymous. (Edited): It would also have use for a number of major merchants. If your answer is no, it'd be most appreciated if you could mention why. Many thanks for your time, all feedback is very much appreciated. Cheers! PS: This is not some alt-coin/rip-off but a new generation cryptocurrency. (Edited; This was at first more of a gambling-oriented poll but as it's moved to Alt-discussion I made it more of a general poll) No. If you consider zero transparency, no public confirmation, no public knowledge of money supply, and therefore full counterfeitability to be "stability".. most of us don't want it. If you meant something else by "as stable as fiat", yes we are interested |
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Greetings miners -
We have now been chopping LOG for three months using only CPUs. The algorithm is pure double Skein. Is there any other coin that can claim pure CPU mining at this stage?
Thanks --
funkenstein the dwarf
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someone wanna copy/paste the story? Another first US exchange! Great, I collect them all. |
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This is most likely someone's idea of a joke/attempt at pump, but I do think Coinbase would increase their user base tremendously if Dogecoin was used.
I do as well. Dogecoin has the largest community aside from Bitcoin. Litecoin on the other hand is useless. Well it seems to work alright for securing the Doge network.... |
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Buy the coin not the dev.
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