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biskup that is a very unpleasant scenario but as long as a large portion of miners are divers machines (different os, patched versions, etc.) then the attack surface is rather difficult to gain a large portion at one time before the miner operators notice (no more coin being delivered for work, etc.)
I'm just speculating, I know it smells a bit like conspiracy theory.  More to say, such hack won't be possible with ASIC based hardware unless... the manufacturer delibarately puts some malicious code inside... But, it's just another speculation.  |
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Send me too, please if you still have some. rhkPwSLPiDj5N8cwH5Pox7wYm8PdJbbrUx I can image some day street beggars will be displaying the QR codes which we scan with smartphone and donate using purpose made app. Shit. That's wrong address. Sadly I have no Terracoin account. Not so easy to be digital currency beggar these days... |
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Send me too, please if you still have some. rhkPwSLPiDj5N8cwH5Pox7wYm8PdJbbrUx I can image some day street beggars will be displaying the QR codes which we scan with smartphone and donate using purpose made app. |
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To be honest, when it comes to dealing with money I prefer if verification is required. This makes me trust the company as I feel they care about security of my investment.
On the other hand, I've strange feelings when I send a scan of my passport over internet to someone I don't know as it always may leak out and be used for some fraud on the other side of the globe...
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so would someone explain this to me then?
is it possible/likely that one person purchased several Avalons or multiple folks are working together in a pool specifically to cheat the system?
how about the supposed BFL's? would they be detectable if they brought all their miners online to stage such an attack?
I'm worried of another theoretical possibility: what if mining rigs became infected with some type of worm/virus etc. which may turn the machine into remotely controlled "zombie"? This way the attacker (or group of attackers) could build their own mining botnet which would turn rogue at certain point and success with performing 51% attack. I know, it's all open source software, thousend times checked, verified etc. but as the current craze goes on, how could we be cetrain that all the miners are purchasing secure mining equipment? |
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Yes
These regulations help stop trolls & allow those that are truly interested in the community to be involved.
True. I'm newbie too, but I wouldn't mind if the regulations were made even stricter as it's too easy to write 4 posts and stay logged in for 4 hours. Not enough to stop more stubborn trolls. |
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Looks like more financial papers are starting to pick up interest on BTC. As many know WSJ is a HUGE paper that is read by millions around the world who are usually interested, work in, etc. the financial sectors of the world. This could mean absolutely nothing at all but what I found interesting was this part of the article. "Financial Crimes Enforcement Network, known as FinCen, last month issued a three-page memo that effectively lays the groundwork to regulate firms that issue or exchange virtual currencies. Among other things, money transmitters must alert authorities if they believe a transaction might be tied to suspicious activity." If it's a BIG IF Bitcoin gets more popular & becomes more mainstream you can bet your bottom dollar we will see some type of regulations taking place to use the currency, trade the currency, invest in the currency, etc. I guess time will tell but I'm willing to go out on a limb here & say to those that are praying the banks & big U.S. financial institutions dont get involved, well that bet would be wrong....
[Suspicious link removed]j.com/article/SB10001424127887324345804578426692340390104.html?mod=djemTECH_h[/url]
Yes, I'm sure it's matter of time when exchanges like Mt. Gox will need government licence to run the business. Open source enthusiasts, decentralization-loving anarchists won't be happy as it goes against the principles but I see some advantages too, like better protection of our investment. |
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I'm all for competing currencies, but they should at least have some property that is actual competition with Bitcoin!
What advantages does TRC have over BTC that would make it worth my precious hard drive space to bother creating a wallet?
Give me your best pitch!
2 minutes on average for block solution, that is 5 times faster than Bitcoin - noticably less time required for transaction conformation. Also, it ain't gonna kill your HDD since full install + all data after sync with network is not even 85 MB. That's it? Bitcoin's confirmation times don't bother me one iota. Thanks for the offer anyway OP! Well, if you think conformation times that can exceed 1 hour for 1st conformation is something most merchants will love, bet on Bitcoin only. I don't think they will love it or hate it. I think it's a non-factor. Thank you for sharing the information though. Actually the confirmation time issue is exactly why some brick-and-mortar merchants have chosen NOT to accept bitcoin. You can't pay for lunch if you have a 30 minute lunch break and it takes and hour to confirm. Or a taxi for that matter. Furthermore the worst part is you don't know WHEN it will confirm, so you stand around just waiting- wondering. That's it! This is serious limitation of bitcoin, any future bitcoin-like currency able to overcome the lenghty confirmation time will eventually prevail. |
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XRP is a silly name and Ripple will fail partly because of that. Sounds like something a 12 year old came up with.
ISO 4217 requires that currency designators be three-letter codes and that designators not issued by a country start with the letter 'X'. http://en.wikipedia.org/wiki/ISO_4217Tha's really interesting. It seems, creators of bitcoin didn't bother about following the standards but those of Ripple do. Another example of more professional approach of Opencoin guys. |
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Ripple is all about traceable, centralized payment system which is opposite to BitCoin which enables decentralized, anonymous P2P payment.
There are many Ripple-like payment systems in the past (e.x eGold). I don't really know what is the point here.
Well, bitcoin seems to depend on cenralized exchange instead which is Mt. Gox... IMO, the real strenght of bitcoin is media coverage, something the older currencies and payment systems lacked in the past. Guys behing Ripple know it very well. |
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I am new to learning about Ripple. My question is that with 100 Billion potentially in circulation, how high could they potentially be valued assuming the company is successful?
It doesn't really matter if it's 21 million, 100 billion or 10 trillion as long as it can be subdivided. For instance, AFAIK each Bitcoin can be subdivided to 100 million smaller units to ensure the currency is useful for low value payments even if it value grows to, say 1000 dollar per BTC. With 100 billion XRP such subdivision is simply not necessary but appreciation of this currency is same possible. |
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