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1341  Other / Politics & Society / Re: Ive Never Met a Poor or Non-White Libertarian on: October 04, 2014, 10:08:49 PM
And this has caused me to rethink my views. Im such a believer in personal freedom, but I dont really see how the endgame for freetrade can be anything other than disaster.

There is a selfishness to Libertarianism which is unappealing to me. It isnt explicit, and it isnt necessary by default, but human nature is by default selfish.

When you extrapolate this selfishness out a thousandfold into the future, the disparity between the haves and have nots becomes cataclysmic to civil society.

The only way I can see a libertarian capitalist utopia actually working is when people at the very very top, the .001%, act in a manner which benefits society at large.

But the problem is, for every Warren Buffet and Bill Gates, there are 10 Dick Cheneys and Mitt Romneys.

Sadly, the 1% are not a benevolent group: http://www.thedailybeast.com/articles/2014/01/27/the-rich-are-as-selfish-as-you-think.html
I'm a libertarian anarchist, and flat broke.

I'm also of mixed ancestry, white and Native American.

Widen your scope of investigation, you'll find a lot of us.
1342  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HYP] HyperStake | 750% PoS | Most Advanced Coin Control Wallet | 4 Markets on: October 04, 2014, 08:17:29 PM
Akula999,

So if you have coin control, then click on it.  It will show you all of your blocks (or piles) of coins.  The age listed needs to be over 8.8 days to have a chance at staking.  Potential Stake shows you how many coins you would get as a result if that block staked.

Finally, just having the wallet open is not "good enough".  You need to make sure that the wallet is unlocked.  In the top right if you see:

Lock Wallet, means that your wallet should be unlocked for staking.
Unlock Wallet, means that your wallet is locked and will not stake despite having the wallet open.  You need to click on it, enter your password, ensure that their is a checkmark in "For staking only".

OK, now we're getting somewhere. The psychologist with a business and media background came up "short". I understand English is not your first language, but come on, you must know how to formulate constructive sentences Smiley
I'm not in IT nor am I a psychologist. I'm an electrical engineer. I create electrical schematics for commercial projects. When I add a items on a blueprint, I have to explain why in detail and how I came to this. This thread is full of a lot of technical jargon. I try to keep up, but we all cant be business psychologists like you.

ibuyltc - Great explanation. First off my wallet unlocked and staking.
2nd - all coins under coin control show ages between 9.56 and 32.7.
3rd - potential stake vary from 82 to 92 for each stack of coins (30 coins up to 338 - all totaling 2200 coins).

Also, my estimated time to stake just hit 17 hours? it's never gone below 1 day.


So you are a "frustrated NON TECH"? Fud and bearish activity detected.

Yes, I am frustrated that after this much 'crypto' time has lapsed, the functionality is still geared towards the "Techie".
No FUD on my part, unless you call FUD on anyone who doesn't understand how to do something. You must have difficulties in real life.
I'll just wait to see, if nothing stakes in 1 week, i'm selling my coins and moving on.

I would recommend giving it a bit longer than that. My last staking took about ten days, except one block that took a really long time, but it did come mature in a time when I couldn't have it open all the time.

Also, if you'll look at the wiki, it has very good instructions on coin control. If you have any problems, PM me. I'm pretty decent at translating techie into english Cheesy
1343  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HYP] HyperStake | 750% PoS | Most Advanced Coin Control Wallet | 4 Markets on: October 03, 2014, 05:39:21 AM
Is it possible to send POS blocks to a different address so it does not impact coin age of main address?

No, it's not.

First off the address is irrelevant, it's the block and the coin age.

Secondly, I think you misunderstand the Proof of Stake mechanism.

This is mining. Just as if you were pointing an ASIC device at a pool, except that the ASIC in this case is the coin block itself. It is part of the calculation, and it has to combine with the newly minted blocks in order for the stake to work and move the network.

It is possible to lock some coins out of the equation, if you need them to be free to spend, but once they are released to stake, they will do their job and become ineligible for stake for the maturity period. For this coin, that's rather short. My other main coin is TEK, where you wait 30 days. There's a lot in between, but right now the only others I recommend are HBN, which is a damn fine coin, and FIRE, which is backed by a man I trust and has recovered pretty nicely since he took over.

POS coins are my primary focus, but I'm far from a comprehensive expert, so take my recommendations with a grain of salt. I hope this helps Cheesy
1344  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [TEK] TEKcoin High % Interest rate SuperStake in 30+ days on: October 03, 2014, 03:04:33 AM
I don't feel the coin burned me.  Id was God/Satan.

I would like to combine and split my blocks into a few equal ones and get into spreading out my stake days, eventually leaving my wallet open all the time for network stability.  I am more into this as an "investment" than as a hobby so I will not stake for under 30% "for the team" or for the network yet.  I need to make up for some loss.  I don't give loyalty to anybody or anything unilaterally.

So... I've checked the "Display coin control features" box, but I don't see any such features and/or I don't know what I'm doing.  Are ther any docs for Coin Control.

I may be TEK's biggest cheerleader, and I agree with your sentiment. I was willing to take it to get the coin working, but I'll stake when diff is low.

As for coin control, that I can help you with.

First off, the coin control features are under "send coins"  Once you get there, hit the "coin control" button in the upper left. It'll open a new window with all the coin control stuff. Make sure it's in List Mode (it's obvious) and it will show you every block regardless of what address it was sent too. Along side each block is a checkbox. Those coins that you mark are the ones that will be sent.

If you want to spread them over a few days, you'll sacrifice a bit of coin age, as each send you make resets the coin age to zero. Not a big deal if you're thinking long term. If you have coins close to staking, I'd leave them alone, other than watching the diff before opening the wallet for staking. But the rest, start choosing blocks and sending the amount you want to stake per day, and send it to yourself. Keep doing that until you're set up the way you want to be. Let me know if you run into any problems. High POS coins have become my thing Tongue I've learned a lot.


Man!!!!  Who keeps dumping TEK and why?!?  Rent day is long gone as far as converting TEK to BTC to cash in hand goes.  Oh yeah, I know why;  because I just bought.  I should let everybody know when I'm going to buy crypto.  Y'all are guaranteed to get it real cheap right after I buy.
Damn. You must be my brother!
1345  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [TEK] TEKcoin Mandatory Update! High % variable rate SuperStake in 30+ days on: October 02, 2014, 11:39:37 PM


Thundertoe has a hard time getting people to compile the windows wallets, and both of the current ones were compiled by volunteers. Again, both known to me. Presstab, while an excitable guy, is beyond reproach. Argakiig is also a good guy. I'm as certain as I can be that they would not put anything deliberately malicious in the code. But as you noted, you don't personally know me, and that's simply not good enough. Which is why I want to learn how to compile windows wallets and post up a guide for it. If you compile it yourself, you KNOW what's in it. It's not as convenient, but it's safer. And I'm starting to ramble, so I'll hang it up here.

Biomech, your posts are always an inspiration. In fact, your posts are what drew me to TEK in the first place. In that vein - would you consider posting a BTC addy that people can donate to if they want, for the purpose of funding compiles (and perhaps related Dev work). A TEK addy would not work under the present circumstances because some of us cannot use our TEK wallets. I will be glad to donate something if it would help break the present stalemate. I hope that you might either act to hold funds in escrow and farm out the tasks or do them yourself if the compensation donations make it viable - earn while you learn.      Wink


I can't give you a solid answer right now, due to other obligations. But I will strongly consider this, and talk it over with you and other community members sometime early next week. Right now I'm against a deadline in my job, and simply don't have time. But that's short term, and I've been a TEK head almost since it began, though I made a lot of mistakes early on Tongue

If I do it, it will be a completely separate wallet, with a pretty serious plan behind it. I don't want to start something I can't finish and leave myself and looking foolish and cost money for others.

Thanks for the kind words. You're a pretty harsh critic, so that means a lot to me.

Bump - I mean gentle reminder. - I mean where shall I send a bit of BTC? - I mean how's it goin', dude? - I mean I guess you are very busy. - I mean I miss running my TEK wallet - I mean "whimper".    Wink

Edit: I am so overwrought I even said LTC wallet for a moment. Fixed now.       Grin      
I'm going to take  a stab at it saturday. It will not be the new GUI, and I'll have step by step notes on what I did (assuming I'm successful).

Very busy right now, sorry I can't be faster with this. As for a dev fund, Thundertoe is the dev, but I'd be happy to act as escrow. I've done it a few times before, for other people.
1346  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Advertising spam is not allowed on: October 02, 2014, 07:21:14 PM
No, I don't think the rule is unfair. That would involve some level of thought, malice, or at least a distaste for commerce. Which, given this forum's proven history of supporting scams as long as they pay the advertising fees, is an insane thought.

I think this rule is insane. I think this rule is arbitrary and capricious, and a rather pathetic attempt to garner more advertising revenue without any sort of solid advertising plan or rules regarding such, or price lists..

My earlier comments were to BadBear, who I usually like. He ignored them. Since that's been the case, I have merely aired my grievance in public. This does not affect my posting, as I do not (currently) operate any of the now banned essential services. I have watched this unfold, and watched it being (legitimately) ignored. Like it or not, all things cryptocurrency eventually find their way to this forum. If Theymos needs more revenue, that's understandable. He should consult with businesspeople on how he might do that. Arbitrary and capricious rules with the sole purpose of restricting commerce on a website supposedly dedicated to a new form of commerce do not make monetary or ethical sense. Some restriction on the number of posts per thread to prevent spam, sure. A blanket denial on services that we all rely on in some manner? That could ONLY make sense to someone high on drugs or power.

I am a miner, a trader, and an activist. Not necessarily in that order. I follow the latest happenings in a number of threads. I do NOT regularly scan the OP, and judging by the other posts, neither do the majority of your users. This is ordinary and not egregious. Some of these threads run to hundreds of pages, and just keeping up is often difficult, let alone scanning the OP for posts, or seeking out pools or exchanges via other threads. There is NOT ONE THING in this rule that will actually reduce spam, as an enterprising operator is going to start a new thread and get his friends and sock puppets to bump the hell out of it. Why? because it needs to be noticed by the customers, miners, and yes, casual readers of these fora.

This rule was not thought out. I won't say it was poorly thought out because there was CLEARLY no thought behind it. It was the blind reaction of an amoeba to stimulus, or a drunkard, or a crackhead.

I know this will likely be deleted. It don't matter. It will be seen.

I also am calling you, mprep, personally for your statement "I didn't make the rule...". That is the Nuremburg defense. Those men were hanged. It is NOT a valid defense when asked or ordered to do something you KNOW to be morally suspect. It never has been and it never will be. You seem a decent sort, but you need to take a serious look at what you do. Theymos is too lazy to enforce this, and you know it. If you are trying to get it overturned by it's zealous enforcement, say  so. Ulysses S. Grant was not wrong in that assessment. But don't go with the copout. It lessens you.
1347  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Advertising spam is not allowed on: October 02, 2014, 05:32:01 PM
Badbear please explain in the best possible way how giving a coin's thread a one time notice that they are accepted to our exchange is considered spam. I just had 33 posts deleted by "mprep" for literally telling a community they are on our exchange. I cannot see any reason for this it is pure nonsense.

Here is an example of my typical posts, note there are no graphics used and very un-spammish in nature

"Welcome to C-CEX:

https://c-cex.com/?p=xsx-btc
https://c-cex.com/?p=xsx-usd"
Regarding the possible ways to show a coin that they have been accepted to your exchange:

1. Make a thread dedicated to your exchange and post a post in that thread that you accepted the coin (it counts as a bump and should be done once every 24 hours). If you don't have a coin added every 24 hours, just post a simple bump which will keep your thread somewhat up.

2. PM the dev asking to add your coin to the OP.

3. To anyone asking on whether some exchange added a coin, PM the user with said information. Just don't overdo it or it'll be considered spamming.

Short form: You have no idea what you are doing. Or why. Were you guys drinking a LOT when you came up with this?
1348  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HYP] HyperStake | 750% PoS | Most Advanced Coin Control Wallet | 4 Markets on: October 01, 2014, 11:44:24 PM
Following up, my big block did stake finally. Not sure why it staked dead last over smaller, less mature blocks, but it did. As you said, the process is random Tongue It was way over max, so I hit the cap. Which I can now report works Cheesy
1349  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HYP] HyperStake | 750% PoS | Most Advanced Coin Control Wallet | 4 Markets on: October 01, 2014, 01:54:00 PM
There is weirdness afoot.

All of my blocks EXCEPT the block of 1600, which has ridiculous weight, staked today. But that one still hasn't. I see I'm behind by one wallet, which I'll fix a bit later, but this still seems odd.

Every other time I've had a problem with HyperStake, I did it, so I am assuming I probably did something. Is there a maximum time as well as a minimum? This one is over 40 days.



Make sure you are running your wallet 24/7 if possible.  Staking is random because it is done with hashes, just like PoW.

As you know I've been on the road, but as of yesterday I have full time internet again. From the time the tech left until about five minutes ago the wallet has been running, plus whenever I could before I got full time 'net. I assumed this could cause some staking issues. What I found odd is that all the small blocks staked, and the 1600 block did not. I just restarted the client, so we'll see if the song remains the same today. If it does, I'll just break the block up and see where it goes from there.
1350  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][HYP] HyperStake | 750% PoS | Most Advanced Coin Control Wallet | 4 Markets on: October 01, 2014, 12:28:16 AM
There is weirdness afoot.

All of my blocks EXCEPT the block of 1600, which has ridiculous weight, staked today. But that one still hasn't. I see I'm behind by one wallet, which I'll fix a bit later, but this still seems odd.

Every other time I've had a problem with HyperStake, I did it, so I am assuming I probably did something. Is there a maximum time as well as a minimum? This one is over 40 days.

1351  Other / Politics & Society / Re: Why do people hate islam? on: September 29, 2014, 04:39:29 PM
Islam is good if you have good teacher,
Imran Hosein;

https://www.youtube.com/watch?v=b2J8QwZom8E

You need a really good teacher, because the Koran suggests the use of all kinds of underhanded and direct violence against those who are not Muslim. And this isn't something that was done in the past, only. It is orders and directions for live Muslims everywhere. It's just that most Muslims have natural love in their hearts for all people, and that's why they don't follow the directives, literally, like they are ordered to.

Sure, Islam is good. It is good for this life and for Muslims, but not for anybody else.

It doesn't get EVEN ONE OF ITS BELIEVERS into Heaven. It is a lie in that regard.


Smiley
What you have said is not inconsistent with Samaricanin.  It would take "A really good teacher" to evoke the good aspects of people, rather than dogmatically follow some scribbled writing from long ago.  I believe there are many such teachers, likely in every religion, and many such good people.

This does not address the issue of bad teachers and bad people, of course.

(Part I have crossed out is part I personally cannot agree with.  Although I am an athiest, if this belief is wrong I would hope to be judged by my deeds, not by adherence to one or another old book.  I would hope the same for those who for cultural, family or any other reason follow one of the many religions.)

Judgment by deeds is the reason why people are lost. NOBODY can be good enough to be saved. Judgment by deeds is only there to determine the quantity and quality of destruction in the afterlife. We all need to find a reason or way to get God to GIVE us salvation, other than because we deserve it. Why? We aren't good enough to deserve it at all.

Smiley

I'm an atheist, but whatever. Even were I not, I would severely disagree with this. The whole "original sin" argument has never made any sort of rational sense. We are what we are, and only by deeds can we devolve or evolve into something lesser or greater. What you think has no morality, it's what you DO.
1352  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 10:52:46 PM
..............

My conclusion, based on 45 years of living in the United States and watching just how rapacious it's government is, is that it will happen at some point. I am of the opinion that the bitcoin protocol and community are resilient enough to withstand it, but saying that it cannot happen or even that it's unlikely seems too complacent. But adoption will have to reach larger scales by quite a lot before they feel that threatened. Right now it's a diversion and cause for some concern to them. That can change. We want that to change. But we should NEVER be complacent when dealing with something that can potentially break a 500 plus year stranglehold on monetary exchange.


I'm going to say something that may sound crazy to most people, but in this decades we could see governments become obsolete, if they aren't already, having a wide perspective of things. Corporations are and will be always more the center of our world, leading progress and innovation and it seems to me that already now it's just a matter of time until they have more power than governments. Just think how much progress in artificial intelligence will increase in the next decade, just take a look at some of the projects from IBM on smart cities or Watson, or Google with its translator and facial recognition alghoritms. These are just small pieces of what will become a big picture some day. Why should we need a government then?
And Bitcoin is one of those pieces. This could be the longest bear phase we seen so far, but I ultimately believe cryptos are part of the future. Bitcoin couldn't have come at a better time.

Being an anarchist, it don't seem all that crazy to me. But I don't really want to see a corporate oligarchy either, but rather decentralized enclaves of people voluntarily cooperating. Corporations in their current form are able to commit great abuses because they are legally considered a person via a state charter. Juridical persons should not exist. Without the State, Corporations lose that advantage, and must compete fairly, even given their scale. They cannot, for instance, maintain protected monopolies (which contrary to popular propaganda is one of the biggest reasons for a corporation to exist) nor prevent others from bringing innovative competing products to market. Ending the governments will level the playing field far more than any revolution or "reform" ever could.

And I totally agree with your last sentence Cheesy
1353  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 06:09:22 PM
It has become something monstrous and alien in just my lifetime. It doesn't even superficially resemble the country I became an adult in, and that's not a significant amount of time. To me, it looks much like Germany just before the collapse of the Weimar republic.


I don't think it changed that much if at all. Just as you grew older you got less enamored with fairy tales that every government spreads to control their humans. Every government's monstrosity is in direct correlation with the power they hold, they, just like corporations, never actually care about individuals or environment or peace; the only thing on their agenda is monetary profit and control over resources, everything else are fairy tales of different depth, from the "I am god so do as I say" in North Korea to "We live in a free society and elect our president" in USA Smiley

If you're talking about it's nature, it hasn't changed significantly since 1917. (When the Senate was abolished in all but name). However, in it's actual presence in our lives and regulation of fucking EVERYTHING, it has accelerated significantly since I was young. When I was a young man, I could carry a rifle practically anywhere if I wasn't waiving it around. I could walk into a courthouse without being searched. I could walk at night without being accosted. I was never even ASKED to identify myself at random. And the police at least pretended to respect the laws they were hired to uphold.

Now, in most parts of the country (I've been to most of them), it's an open police state. They can, and do, kill with impunity. I could go on and on, but I think I make the point.

I never was all that enamored of the fairy tales, but I think the biggest wake up for me was how many of my friends went on vacation to other countries and never came back. When you hear those fairly tales for your whole life, but are able to hack into the networks and see the other side, it gets pretty hard to deny. When you can watch your nation tumbling headlong into the abyss at a pace that would have frightened Nero, then you really have to reassess. The vaunted dollar is worth about -3000% from the time I first entered the workforce. While it's rate of decline is not as bad as it was a couple of years ago, it's still ugly. Wages have not even come close to keeping up with inflation, and yet more dollars are made. I could again cite hundreds of examples, but you get the point.
1354  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 06:00:55 PM
..............

My conclusion, based on 45 years of living in the United States and watching just how rapacious it's government is, is that it will happen at some point. I am of the opinion that the bitcoin protocol and community are resilient enough to withstand it, but saying that it cannot happen or even that it's unlikely seems too complacent. But adoption will have to reach larger scales by quite a lot before they feel that threatened. Right now it's a diversion and cause for some concern to them. That can change. We want that to change. But we should NEVER be complacent when dealing with something that can potentially break a 500 plus year stranglehold on monetary exchange.

It's more fun looking at the United States as an outsider Smiley
I strongly believe that the United States is already working on a plan B and C to kill bitcoin.
Plan A is watch it kill itself and never become a currency.

Since P2P filesharing is hard to stop I don't think they can ever stop Bitcoin. Trying to stop it now would only make it more interesting.

Why kill bitcoin? We all know how the fiat situation of the USA is. Bitcoin would be like having an accounting firm checking your bookkeeping. There is no escape, your can't fake your books.
Printing money will no longer be possible and countries (incl. USA) would need to earn their money just like their citizens. Waging war would be a costly business so I also believe that the world might even become a better place.

What makes you think it wasn't the US government that launched bitcoin?  We need a replacement/backup currency in place for when the US national debt reaches a level that the US dollar begins to collapse.  http://www.usdebtclock.org/

Rather than passing the global financial leadership position on to the next emerging economic leader you simply change the rules...

It has occured to me.

The reason I don't think so, though it would be a beautiful "black" op. is that when it comes to monetary policy, the USG has shown a truly remarkable lack of imagination since their great god J.M. Keynes found his "long run". Now I could see one of the "shadow" organizations within the USG doing it on their own, but it just seems a bit too elegant for their type.

But again, you can't discount the possibility. Especially since it has a counter effect of destabilizing OTHER fiat currencies to a greater degree (due to scale) than the dollar or Euro. It could actually strengthen the big boys by strangling the small ones.
1355  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 05:19:12 PM
..............

My conclusion, based on 45 years of living in the United States and watching just how rapacious it's government is, is that it will happen at some point. I am of the opinion that the bitcoin protocol and community are resilient enough to withstand it, but saying that it cannot happen or even that it's unlikely seems too complacent. But adoption will have to reach larger scales by quite a lot before they feel that threatened. Right now it's a diversion and cause for some concern to them. That can change. We want that to change. But we should NEVER be complacent when dealing with something that can potentially break a 500 plus year stranglehold on monetary exchange.

It's more fun looking at the United States as an outsider Smiley
I strongly believe that the United States is already working on a plan B and C to kill bitcoin.
Plan A is watch it kill itself and never become a currency.

Since P2P filesharing is hard to stop I don't think they can ever stop Bitcoin. Trying to stop it now would only make it more interesting.

Why kill bitcoin? We all know how the fiat situation of the USA is. Bitcoin would be like having an accounting firm checking your bookkeeping. There is no escape, your can't fake your books.
Printing money will no longer be possible and countries (incl. USA) would need to earn their money just like their citizens. Waging war would be a costly business so I also believe that the world might even become a better place.

I believe you. Watching it from the inside has been an exercise in frustration. It has become something monstrous and alien in just my lifetime. It doesn't even superficially resemble the country I became an adult in, and that's not a significant amount of time. To me, it looks much like Germany just before the collapse of the Weimar republic.

I also agree with your conclusions.
1356  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 05:11:42 PM

It used to be $1200..

Used to be? Was at that price for like 3 days.

Anyway this bear phase is quite strong but given anyone is so pessimist I think it may be almost over. Not saying it won't drop further though.

I hope so. Another 50 bucks down and I can afford to buy a whole bitcoin and hold it Cheesy
1357  Other / Politics & Society / Re: Why do people hate islam? on: September 28, 2014, 05:04:25 PM
It just occurred to me what the answer is. People hate Islam because animals don't know how to hate. Sure, animals may imitate, and sometimes even emulate, people. But they don't really know how to hate.

Smiley

I'd agree if we weren't animals. Perhaps that's something that sets us apart from other animals, though I've seen behaviour in dogs and cats that would suggest otherwise.
1358  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 04:49:59 PM
But if an attacker obtain 51% mining power in a PoW network, there's nearly nothing you could do, other than go out and out-spend the attacker by buying more hardware and spending more on electricity. I'm sure the hardware vendor and electricity companies would love to see this happen. If no one step up and out-spend the attacker, the attacker with their vast amount of hardware can PERMANENTLY disable the Bitcoin PoW network, there's nothing you could do to stop them, other than... converting Bitcoin to PoS Smiley.

Do you understand that solution is easy, and attacker will spend alot of money ?
If you refuse hi priority transactions then your block will become invalid and ignored by others. You have to accept bitcoin rules or hash your own empty alt-chain.

The point of having a 51% attack is because you can decide which chain is valid, and what transaction to include. These are straight from the bitcoin wiki:

An attacker that controls more than 50% of the network's computing power can, for the time that he is in control, exclude and modify the ordering of transactions. This allows him to:
    Reverse transactions that he sends while he's in control. This has the potential to double-spend transactions that previously had already been seen in the block chain.
    Prevent some or all transactions from gaining any confirmations
    Prevent some or all other miners from mining any valid blocks

https://en.bitcoin.it/wiki/Weaknesses
Using game theory, can you think of a reason anyone would bother trying this? Your logic skills will be tested.

Short version, with the caveat that it has been two decades since I formally studied Games and Theory.

Bitcoin presents a clear and present danger to conventional banking and national fiat currencies. At the current level of adoption, this thread is more theoretical than real. However, should certain scenarios occur, such as wider adoption of bitcoin or the collapse of a major currency, then certain agencies (The US treasury being one of them) would have a vested interest in destroying or discrediting the digital currency.

I am presenting this with an understanding of the political process that may not be obvious to those who have never been a part of it, so I must digress for a moment to illustrate that while it is important to the political process to centralize and control a fiat currency, that currency IS NOT the one in which the political masters trade. They trade in power, and in most cases that is measured by the number of humans they control as pawns. In the West, where the main political paradigm is a pseudo-democracy, that is measured in votes. In more direct dictatorships, it is measured in actual controlled humans. In either case, that is the currency they most covet and most protect.

In the above scenario, it is likely that the ascendence of an decentralized and unregulated currency would threaten both their fiat and their franchise. In that case, it would make political sense for them to attempt such a thing, and while the resources were available. A big government could do it, in secret, and fairly quckly. They do not respect patents, and frankly there's nothing magical about ASIC chips. While uneconomic in the narrow sense, it would protect their monopoly, which they DO perceive as more important than anything else.

My conclusion, based on 45 years of living in the United States and watching just how rapacious it's government is, is that it will happen at some point. I am of the opinion that the bitcoin protocol and community are resilient enough to withstand it, but saying that it cannot happen or even that it's unlikely seems too complacent. But adoption will have to reach larger scales by quite a lot before they feel that threatened. Right now it's a diversion and cause for some concern to them. That can change. We want that to change. But we should NEVER be complacent when dealing with something that can potentially break a 500 plus year stranglehold on monetary exchange.
1359  Economy / Speculation / Re: Bitcoin Crashing Again.... on: September 28, 2014, 04:32:20 PM
Wrong, it's extremely easy and cheap to attack PoW network, tons of PoW altcoin has been attacked to death.

Zero successful 51% attack on any PoS altcoin so far.

The 51% attack does not work on PoS coins because they are centralized. They use aggressive check-pointing. They also can not be "forged" securely (to an off-line wallet) since you need to keep the private key in memory (of a network-connected machine) to prove "stake".

Most famously, Vericoin (NxT) was rolled back after the Mintpal hack. (Another article talks about how Vericoin was not rolled back after BETR was compromised: paying ransom instead).

Again, WRONG. All PoW has checkpointing, including Bitcoin, because it's so easy to attack a PoW network. Most pure PoS coin does not have checkpointing, because it's not needed. Peercoin is fading out checkpointing since the PoS portion has taken over the network now.

Vericoin roll back is due to hacking, not because of failure of PoS system, so what's the problem? if someone hacked 50% of all Bitcoin available, you can be pretty sure Bitcoin is going to hard fork and rollback the attacker's address too, otherwise the eco-system will fail. Or do you think if someone stole 50% of all USD available, the US government is just going to let it slide?



"someone" did execute a better than 51% attack against the US dollar in 1937. Very effectively, and with complete success til the present.

Not a very good analogy, though your point is taken.
1360  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [TEK] TEKcoin Mandatory Update! High % variable rate SuperStake in 30+ days on: September 28, 2014, 04:14:26 PM
i just minted a block, 20% pos diff looks like .00098, not 40% but less mintage is likely to pull off some of the pressure on the sell side of the market and allow price to rise.

dun thinks so ppl will just dump what they stake to switch for hyp since perceent is same now .only hyp is nine days not 30

I"m very much into both coins. Each has different character and strength. TEK is a hybrid, and HYP is not, so I think that Tek will continue to perform well even while the bumps get sorted on the PoS side. Because it is still a viable currency even if the PoS side of the chain gets frozen. We saw that with the recent problems. Up until the hard fork (where thngs got screwy for a few days), Tek was still tradeable without issue because the PoW side of the chain had no issues.

HYP on the other hand is fubar if the chain freezes. Not that I think that likely, since presstab loves his child, but it does present the difference in the scenarios. Both coins are very cool, and I will continue to support both.

I do think that the POS payout problems need to be fixed to where it used to be again. Or at least close. And it's being looked into. What we don't want, and I think in this I can speak for everyone pretty safely, is another debacle like the last fork. While it got resolved quickly, it did NOT work well out of the gate. I heard a figure of like 40+ chains for a day or two Tongue

So for now, it works, just a bit unstable. I figure that Thundertoe and friends should take their time, get it solid, test it for a good while, and THEN fork it. In the meantime, the slowdown in POS makes the coin potentially more valuable as it is more rare. It also extends the time where inflation will become an issue. I consider it growing pains. TEK has always been kind of a low profile coin, and yet it has stood the test of time. It's still here, it's still actively traded, and it's price is pretty decent.

Right now, I'd be more worried about merchant adoption and other things that would break it away from being just a trade coin. Then, once the technical issues are worked through, it will be significantly more valuable.


If a chain freeze were to happen to HYP it would not be a big deal. Would just issue a rollback to the block before the freeze and thats that. Would probably only take a few minutes to fix. In all honestly, TEK could have and should have done this.  HYP also has code that prevents TW problems that TEK just had.  For example it only allows a block from 10 minutes in the future/past, where TEK still allows 120 minutes. This is something that should be investigated/changed if there is another fork for TEK.
I thought that had been changed. I really need to get up to speed on coding Cheesy It's also good to know that HYP has solid measures in place. I rereading my post, it looks a bit more cautionary than I intended, just meant a comparison of strengths and weaknesses.

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And honestly, I don't think categorizing TEK vs HYP is correct. They are totally different coins. TEK is an SHA PoW/PoS coin that has high rate PoS and uses NVCS as an inflation control method.  HYP is PoS only without NVCS.  Really the only thing they have in common is the relatively high rate.  TEK has a 30 day maturity period compared to HYP's 9 day, which means you can't cash out as fast, but also provides the benefit of limiting supply on the exchange.  I think that investors/holders should not make a decision between the two, but probably hold both because they both have their benefits in specific areas.

..and that's precisely what I was getting at. They are very different coins. Both very cool, and coming from a similar background. TEK has been around quite a while and is a tough bastard. HYP has been trouble free almost from the beginning. I hold both and will continue to do so. These are MY primary coins.
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