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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Crypti | Release June | 100% POS | New Source
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on: June 26, 2014, 06:24:21 PM
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i am suspicious because:
1) they ask for money way up front, prior to proven development
2) the dev, "crtpti", is a newby log on. Likely a new posting ID from someone who launched other schemes here. See STACKcoin. Also, see CryptoMeth, where the dev has been AWOL ever since a huge dump of coins immediately after listing on MintPal.
3) They profess to be able to get merchants to use their coin... but BTC already has that market in development. The merchant market is still very small, and will be for at least 2 more years. Merchants have no need to accept BTC, since credit cards, debit cards, Paypal and cash work so well. Merchants dont have time to convert cryptocoins to cash. Until it is as easy and idiotproof to transact in BTC as it is in Credit Cards, merchants will not use any cryptocoin.
4) transactions have to be confirmed, by miners. With half of the coins premined, there is little incentive for miners to mine. Unless there are miners, there are no confirms and no transactions completed. This is the problem with Quark. All coins have been mined, so transactions have to be confirmed by those willing to use their rig for a few Quarktoshi per confirmation.
System does not include miners. Please, read white-paper. This is PoS. Only forgers: setup node and start forging in wallet. You can see my name in first post: Boris Povod. Just google it, i have accounts on twitter, odesk. Coin is e-commerce oriented, one main thing - custom blockchains. We want to attract not just a lot of shops, we want to give the opportunity to create new infrastructures for business: useful decentralized computing, trade, storage. How long has your team been working on crypti? |
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128
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Alternate cryptocurrencies / Altcoin Discussion / Re: Monero or Bytecoin?
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on: June 21, 2014, 02:42:22 AM
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bytecoin because the developers have better understanding of the code than the monero devs because it was written by them.
Prime example: The recent update to lower RAM usage.
People that tell you to invest in monero is because they have invested in monero and would benefit more if you did the same.
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129
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] MaskCoin and MaskNetwork
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on: June 21, 2014, 01:29:21 AM
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I don't understand how it is distributed. Who gets the other 95,000,000 coins to start? Also don't get why in POS coins those already having coins get so much interest  Premine is 5 million IPO is 500k Now if interest is 25% a year, in reality it means that the creator will have 10x more coins than all the other coins in existence. So yes, you could say this is a 90% premine. If its opensource, someone should just clone it and make the distribution fair. |
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133
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - Secure, private, untraceable cryptocurrency
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on: June 16, 2014, 11:47:42 PM
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is the GUI released yet?
The GUI is not important enough for us to be worried about yet. I'd say we want to get the software as bulletproof as possible now, first. Worry about a gui later. If not having a gui means less attention it is better for now. We want to make sure when the attention comes we are ready. Clock is ticking, zerocash is around the corner and could bite your ass if you don't hurry up. How has zerocash solved the accumulator problem? If not then it's a trusted system not a trustless system. No one in crypto is interested in third party god mode. They are using multisig method, so out of lets say 20 people, just one of them needs to be honest. Either I have misunderstood the accumulator issue or you have misunderstood the accumulator issue. Zerocash requires an initial accumulator that will exist for the life of the currency. This accumulator requires certain knowns to be created. These knowns then have to be thrown away. However it's impossible to prove they were throw away. Hense the concern. Someone who retains these variables in the beginning will be able to print new zerocash without any ability to prove the supply is being manipulated. This is why in its current form zerocash is an example of a trusted crypto currency, and trust at this particular level (control of the money supply by whomever started the currency) is certainly a no go. Maybe i didn't explain it well enough, here i will give you the source. https://twitter.com/secparam/status/476479941878755329Well "multi party computation" is certainly not "multisig" Also, what the hell is "multi party computation"? Even if all the computers take part in the computation of the accumulator, the initial variables still need to be present when the final accumulator is forged. I haven't read any research about "multi party computation" that can solve this issue. In fact, true "multi party computation" would be a more impressive invention than zerocash itself. Please present the papers about "multi party computation" because I need such tech for a project of my own (nothing to do with anon by the way) Mathew Green tweeted they were developing it specifically for zerocash, cbf to find it, look through his posts. |
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134
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - Secure, private, untraceable cryptocurrency
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on: June 16, 2014, 07:09:28 AM
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is the GUI released yet?
The GUI is not important enough for us to be worried about yet. I'd say we want to get the software as bulletproof as possible now, first. Worry about a gui later. If not having a gui means less attention it is better for now. We want to make sure when the attention comes we are ready. Clock is ticking, zerocash is around the corner and could bite your ass if you don't hurry up. How has zerocash solved the accumulator problem? If not then it's a trusted system not a trustless system. No one in crypto is interested in third party god mode. They are using multisig method, so out of lets say 20 people, just one of them needs to be honest. Either I have misunderstood the accumulator issue or you have misunderstood the accumulator issue. Zerocash requires an initial accumulator that will exist for the life of the currency. This accumulator requires certain knowns to be created. These knowns then have to be thrown away. However it's impossible to prove they were throw away. Hense the concern. Someone who retains these variables in the beginning will be able to print new zerocash without any ability to prove the supply is being manipulated. This is why in its current form zerocash is an example of a trusted crypto currency, and trust at this particular level (control of the money supply by whomever started the currency) is certainly a no go. Maybe i didn't explain it well enough, here i will give you the source. https://twitter.com/secparam/status/476479941878755329 |
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135
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - Secure, private, untraceable cryptocurrency
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on: June 16, 2014, 04:03:27 AM
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is the GUI released yet?
The GUI is not important enough for us to be worried about yet. I'd say we want to get the software as bulletproof as possible now, first. Worry about a gui later. If not having a gui means less attention it is better for now. We want to make sure when the attention comes we are ready. Clock is ticking, zerocash is around the corner and could bite your ass if you don't hurry up. How has zerocash solved the accumulator problem? If not then it's a trusted system not a trustless system. No one in crypto is interested in third party god mode. They are using multisig method, so out of lets say 20 people, just one of them needs to be honest. |
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136
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - Secure, private, untraceable cryptocurrency
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on: June 16, 2014, 01:08:17 AM
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is the GUI released yet?
The GUI is not important enough for us to be worried about yet. I'd say we want to get the software as bulletproof as possible now, first. Worry about a gui later. If not having a gui means less attention it is better for now. We want to make sure when the attention comes we are ready. Clock is ticking, zerocash is around the corner and could bite your ass if you don't hurry up. Oh and in case i don't see you, Good morning, Good evening and Good Night.  |
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