I spent 40 bucks fedexing you one to try to help you out. What BS

Can you tell us why you think he did not get his facts right? Can you give out your reasons, your own facts? Skycoin guy at least gave out his facts. Now it is your turn. I am just curious.

It may be an ass-backwards way to get them but have you tried PM'ing Phin to get the parts from his miner? Considering he does not mine, might actually be useful for that.

Where is the data coming from zenithcoin is not on any exchange

Friction,

Isn't CEX.io getting ready to do some big things with iXcoin?

Wouldn't they be enough to get the ball rolling?

ITT and every other one it seems, there are noobs calling scam at every turn. "Done no research but got an opinion, derp."

There's no evidence that Maidsafe project is a scam. There are always third parties looking to take advantage and always sore losers grumbling on the sidelines.

 

mmpool.org is using the latest IXcoin client and has mined a few blocks successfully using it. This can be a useful data point to mention to other pools if they are hesitating due to perceived lack of testing.

Yes, the data is always encrypted chunked compressed and obfuscated. A huge part of the crowd sale was the importance of making this a global community. So the community are now taking over, creating their own forums etc. We will assist in setting up international independent dev pools. This is our best protection as the code becomes more community owned and importantly community driven. When we have devs from all over the place working on the core then we will be protected against such issues. I would hope if MaidSafe were forced to put in a backdoor

1: I would certainly quit immediately

2: I think many, if not all staff would do likewise

3: The community would detect this and ban us from any repository immediately.

I have said to many people this is evolution, you cannot stop evolution. We all need to change our ways as new tech happens (bitcoin for instance). Sometimes the harder the man pushes the tougher the crowd becomes. I think natural evolution will give us a free Internet and this is our shot at it. Somebody else may do it better and that is cool, as long as it happens.  

It's fishy.  This thing had almost no marketing or any presence on the net, then they have this IPO which makes millions in hours.  It never made sense until you outted them laundering stolen bitcoins.


It's a good thing Bitcoin has a public ledger.

Exactly.

If you consider the fact that the competition for money will centralize all the network in few locations with the best performance and highest bandwidth (like in all crypto), you can be sure that there is a risk of losing data.

The encryption is all handled client side and explained in the papers and in the code (encrypt library). It is a form of convergent encryption and chunking. The network cannot decrypt the data, neither could any human without the keys (barring of course some massive code error etc. like any system). The code is all open source and audited by many devs universities and other parties. You can take a look and see how we have done some of these things, it is pretty good we think.

The point of the whole thing is you are in control, you and the machine, no humans and no intermediaries. That is a more natural way to work and very scalable.

On the one hand, ixcoin could make itself friendly to the counterparty/mastercoin methods. This has the advantages of advanced features that people love and could possibly make the protocol more attractive as advanced features are trending. Also advanced feature users pay miners an extra fee making all the more reason to secure the network after the coin maturation event. (The big event)

On the other hand however, mastercoin/counterparty have come under heavy criticism. Something along the lines of, you are a parasite and will break the bitcoin network. My understanding is that satashi dice put a very heavy load on the network, and when the master-party is finally rocking out in all its glory, it will make the dice load look like a walk in the park.  So in this scenario maybe Vlad is right, if bitcoin is looking like a testnet for these advanced ideas that might adversely affect it, then maybe a coin that is identical to bitcoin with out the extra features is more attractive to the big money. However bitcoin is not going to be able to shake mastercoin off very easily if at all. The same mastercoin system could be built on top of ixcoin without approval, so maybe it is just better to work with these ideas instead of against them.

Peter Todd was hired by mastercoin to research issues such as these and to help mitigate the impact of the project on bitcoin. I haven't followed his research but he would be a good person to look at for these topics.

IIRC - the 10% IPO means the capitalization at launch will be $160 million.  That's a risky investment for people who poured BTC into this.   It's easier said than done to hit $1 billion or $10 billion.  

You have to factor in the farmers, like miners, who'll be dumping to meet their overhead.  I'm pretty certain this IPO was never determined to be a good investment.

It's difficult to see why either of your guesstimates would ever happen. At this point there's no reason why the Safecoin value would ever appreciate, as there's no actual use for it in the SAFE system. Will it pay for access? Apparently not. Will it pay for apps? Who knows.. Until the Maidsafe folks actually unveil a business plan and usage model for Safecoins, there's nothing to indicate that the value will appreciate other than a fancy exponential graph in a blog post indicating that value will increase then plateau and that it will somehow be inversely related to processing power and storage costs.

That doesn't make any sense though, if processing power and storage costs go towards zero, why would the Safecoin token price increase? Add to this a hefty inflation from farming and the value might actually decrease. I do hope they surprise me though and come up with something awesome, the potential of their technology deserves it.

2 years -> 1 Safecoin = 2 BTC

Thanks for calculating, this last sentence make me regret in investing in this project. Smell really fishy for what MSC foundation/Bitangel did.

In Ripple you have a bunch of node. If a peer rejects a transaction, then to achieve consensus, the connection's peers will drop the transaction and the rejection of the transaction propagates through the network. That means that a single bad node can freeze the assets in a particular address.

Ripple is must more vulnerable to government influence and control than Bitcoin, because control of the network is centralized in financial institutions. Nodes are run by exchanges (called gateways in ripple). Exchanges are highly regulated by governments. They need licenses and government and bank approval to operate. Governments can court order exchanges to block transactions for particular Ripple addresses and the exchanges must comply and have the ability to comply. Governments can impose Know Your Customer Requirements through the exchanges that control the key nodes in the network.

The other flaw is that node consensus occurs in private in Ripple. Nodes can act maliciously and it cannot be detected by the public. In Skycoin, consensus is public record and malicious nodes can be held accountable. Ripple only works if you assume the nodes in the network are not malicious, which is a bad assumption.

The other problem with the Ripple network is that most of the nodes are still run by the development organization. Control of the Ripple network is centralized with the developers. When you consider the number of secret court orders that many crypto companies have been receiving lately to backdoor their software, its very dangerous. The government has gone to companies like Google and Lavabit and told them "You have to do this" and they have to do it. They are not allowed to tell anyone. Companies that have tried to resist or fought the court orders or did not comply voluntarily have been crushed.

You can comply with the court order, or you can comply with the court order.  Many people decide "I am not going to do this" and decide to shut down the company instead of complying with the order. The government produces another court order saying you are not allowed to shut down the company and still have to comply with the court order. They tell you that you will go to jail if you dont do it. This is what happened to Lavabit. Ripple will comply, they are not going to shutdown and lose their investors money and destroy the value of their stock options over ideological principals.

Skycoin started with a central account like Ripple has, but later decided it was too dangerous for privacy and security. Skycoin and Bitcoin use outputs and generate new addresses for each transaction and we feel this is a better long term solution than the choice Ripple made.

Skycoin vs Ripple:

Skycoin is similar to Ripple at a high level, but with extreme differences
- Skycoin uses Outputs and Addresses for increased privacy and security and Ripple uses Accounts (which we feel are dangerous)
- Skycoin has block level consensus, Ripple does transaction level, which makes it easier to allow nodes to freeze assets
- Skycoin node consensus decisions are public and published so nodes can be held accountable, Ripple node consensus decisions are made in secret
- Skycoin gateway protocol is not on the blockchain and allows anyone to create any asset they want. Ripple's gateways only support a subset of hardcoded currency assets that Ripple decided to support and they are on the blockchain. Ripple does not support contracts, loans, options or more advanced scripted assets.
- Skycoin nodes are run by users, Ripple nodes are run by financial institutions and the Ripple developers.
- Skycoin is much much simpler than Ripple. The core of Skycoin is only a few thousand lines of code and easy to audit and verify. Ripple is a few hundred thousand lines of code and no one can understand how it works.
- Skycoin is easy to run and users only have to run one program. Ripple requires running between one and three servers depending on what you are using Ripple for.

Ripple is extremely innovative and a great accomplishment, but flawed. The inventor of Ripple has done many great things and has always been on the forefront of innovation. He created eDonkey, MtGox and Ripple. Every single thing he has ever done has been technologically innovative, ahead of its time, achieved great things and then collapsed.

Jed McCaleb is like one of those bioroids from Blade Runner.

This is true.  But it wouldn’t be decentralized, which is kind of the point ;-)

Craig