Bitcoin Forum
September 05, 2015, 03:39:03 AM *
News: New! Latest stable version of Bitcoin Core: 0.11.0 [Torrent]
 
  Home Help Search Donate Login Register  
  Show Posts
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 [33] 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 »
641  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: February 01, 2012, 07:31:37 PM
Here were my thoughts on this last year:

SolidCoin is not a cryptocurrency, or at least by most people's definition of cryptocurrency. There's really no need for miners. SC miners do not secure the chain. That is already done by the trusted nodes. So miners are basically wasting their electricity.

Think about it this way... with Bitcoin, miners hash to secure the network and they get rewarded for the security that they are adding to the network. With SolidCoin, miners are just wasting electricity because RealSolid thinks that this is a fair way to handout SCs. It's similar to a King asking his peasants to run around in circles. The faster they run, the more coins they get. So of course, profit-driven peasants will run around in circles, which adds no value to anything. King RealSolid realized that he is passing out too many solidcoins this way, which will dilute his own holdings. So guess what, he decided to pass out only 5 SC (instead of 32 SC) to his loyal peasants for each circle they complete. Then what happens? Well there are less peasants running around in circles b/c it's not worth it anymore. But that doesn't matter to RealSolid, because peasants running around in circles doesn't add any value in the first place. Hmm...

Also, since the trusted nodes controls 50% of the blocks, by definition, you cannot do a 51% attack unless you have control of a trusted node.

It's great when you create all the rules for your own realm AND you actually find suckers willing to follow you.

No one should be surprised where it's headed... 32 -> 5 -> 0.07 -> 0
642  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: February 01, 2012, 10:08:04 AM
So it seems like you know a lot about this attack, huh? I wonder why.

Sure, because unlike you who doesn't pay attention to their chain this stuff interests me. I like making SolidCoin better, and even changed our max block size after seeing LiteCoin abused. Once that attack became public I looked at when it started and was surprised it was a relatively long time before it was announced, which made me realize you weren't "on the job". It's the truth right? Want to make up some more FUD ?

The attacker was testing the network for a few days before gmaxwell's post. He was sending various amounts of 0.1337 and some 0.00000001 around. It was after gmaxwell's post (or very close to that time) that his spams really started to impact the network, where he would send tons of 0.00000001 in each transaction. That was when I was alerted to the problem. His previous test transactions did not catch my attention as I don't spend my spare time looking at block explorer. So by your definition, that means I'm not "on the job", huh?

CoinHunter/RealSolid, you're a sad person. I feel sorry for you.
643  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: February 01, 2012, 09:37:13 AM
Where did you get this information from? You might want to double check your sources before you spread more FUD. I saw the Litecoin dust spam transactions immediately. It was very soon after gmaxwell's post.

Yah, you know a lot about FUD don't you. I'll have to submit to your excellent knowledge on the subject. Wink

Can you please confirm the date between the first spam attack and that post so the proof is out there?

So it seems like you know a lot about this attack, huh? I wonder why.
644  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: February 01, 2012, 09:23:21 AM
You didn't even notice LiteCoin was being "attacked" for 2 days, before criticizing the #2 cryptochain on how it's security works you should make sure your own bases are covered.

Where did you get this information from? You might want to double check your sources before you spread more FUD. I saw the Litecoin dust spam transactions immediately. It was very soon after gmaxwell's post.
645  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: February 01, 2012, 12:27:25 AM
Yeah it's the old tasty argument of "SolidCoin is centralized Bitcoin isn't" . Like the trust nodes in SolidCoin somehow make it sooooo much different than deepbit and btcguild controlling Bitcoin. Might as well call deepbit trust node 1 and btcguild trust node 2. Because you are trusting them to not attack Bitcoin.. Smiley

Not that I'm saying deepbit or btcguild will do an attack but if you can't see Bitcoin users are TRUSTING these two pools not to then you can't argue any centralization aspect against SolidCoin with a clear conscience.

LOL

Miners actually give the pools their trust when they mine on that pool. If the pool misplaces that trust, miners will leave the pool. This is similar to voting a politician into office to represent the people in a democracy. Just look at the miners that left Eligius when Luke-Jr used it to attack CoiledCoin. Granted since this wasn't an attack on Bitcoin, most of the miners didn't care and stayed with Eligius. If deepbit, or any other pool tries to attack Bitcoin, you can bet that they will lose their hashrate immediately. This is different than solidcoin, where your enforcer nodes have total control to force every miner to use your code or be left out. Pretty similar to a dictatorship if you ask me. You may have some loyal servants willing to be ruled by you, (like Kim Jong-Il: http://www.youtube.com/watch?v=pSWN6Qj98Iw) but most people on this forum don't like enforcer nodes.
646  Bitcoin / Pools / Re: [488 GH/s] EMC: 0 Fee/DGM/Merged Mining/PayPal Payout/SMS/Yubikey/More on: January 31, 2012, 02:53:07 AM
Yeah always the PC version. Consoles are for kids... PCs are for the big boys who actually can play FPSs.  Consoles hold you're hand with their autoaim and Fisher Price style controls. Smiley

Looks like it worked. Keep gaming.
647  Alternate cryptocurrencies / Altcoin Discussion / Re: Anarchic p2p Litecoin Market Portal on: January 30, 2012, 11:57:42 AM
Started using litecoin today, will check this out.

It is currently devoid of life.

It is actively mined, from what I've been reading in the Litecoin forum.

And actively traded on BTC-E and Vircurex.

Has Coblee given up the ghost on LTC?

Nope, still here.
648  Bitcoin / Bitcoin Discussion / Re: Convince me that the bitcoin elite cannot become the next Rothschild family on: January 30, 2012, 07:20:18 AM
Quote
If a bank can spend 5 million dollars and shut down Bitcoin do you think Bitcoin is that secure? You may argue that it's 10 million or 20 million, but 3 years ago banks were given over 5 trillion dollars just to keep running. 20 million is nothing if it means shutting down a true competitor to their system. Zimbabwe could should shut down Bitcoin if they wanted. It isn't hard and it's entirely legal. Put as much faith into such a system as you want but we offer people a safer solution at SolidCoin.

What exactly makes solidcoin more secure for any governmental or other agency with enough resources to shutdown? Faster retargets? Anyone with enough resources to disturb bitcoin could make solidcoin and everyone using it dissapear from the face of the earth if there was every any point for that.

Seriously CoinHunter, it takes a lot less than 10 million for a government to find your true identity. They will then force you (maybe even torture you) to give up the identity of the trusted nodes and shut Solidcoin down. And I'm sure there are technical ways to take Solidcoin down by isolating the IPs of the trusted nodes and taking them down that way. I can't believe you are so naive as to think that your solution (centralizing the creation of every other block to trusted nodes and hiding the trusted nodes) is safer than bitcoin's decentralized solution. For your sake, I hope that Solidcoin never takes off. At least Satoshi would not need to fear for his safety when Bitcoin becomes a threat to the current monetary system.
649  Alternate cryptocurrencies / Altcoin Discussion / Re: Physical Litecoins on: January 29, 2012, 07:29:16 PM
I am interested in something holding 10,000 or 20,000 or 25,000 LTC... Can this be done? Thanks.

Agreed. I'd be in for a 10,000+ physical LTC

Talk to casascius, he might be able to create you one.
650  Alternate cryptocurrencies / Altcoin Discussion / Re: Physical Litecoins on: January 29, 2012, 07:17:20 AM
Sorry for the delay, looks like a few people are flaking out. I will send out the coins to the people that have paid me:

Mushroomized 2
inlikeflynn 2
SockPuppet 2
DeLorean 2
ZedZedNova 3
illpoet 1

651  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: January 27, 2012, 08:44:06 PM
Here's a wild idea. If you really wanted dollar parity, why not just move the decimal point over by 2 places. Just make each SC be worth 100 of the old SCs. Name it NSC if you prefer. That way, it doesn't unfairly benefit the early adopters. And right away, NSC will be worth more than a dollar.
652  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: January 27, 2012, 08:05:55 PM
Personally, I was enjoying the powerblock lottery, and I'm sad that they're taking it away Sad

What they are taking away powerblocks? That's the only reason why I mine solidcoins! I mean what business doesn't like a lottery designed into your currency?!?
653  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: January 27, 2012, 07:53:07 PM
There's another thing I forgot. Now that block rewards will be 0.05-0.07 sc, it will take about a million years before any one person can get a million SC to become a trusted node. Who saw that coming?
654  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: January 27, 2012, 06:29:03 PM
There is another hot topic - multisig transactions for better wallet security.

What if litecoin implements BIP17 proposal? The bitcoin crowd seems to be slowly converging on BIP16.
There is a heated debate over here:
https://bitcointalk.org/index.php?topic=61125.0

This might bring some life and interest back into litecoin and it will truly compliment bitcoin by selecting a competing solution.
I think I have posted about it here a few days ago, but nobody seemed to pay attention.

Coblee, what do you think?

That's an interesting idea. I will look into it. Will need to weight the benefit of this versus the cost of having to maintain a separate codebase than Bitcoin. Unfortunately, there aren't that many people working on Litecoin (only me right now), so if BIP17 introduces a security hole, that might be disastrous. So I have to be careful there.

In the near future, I will merge in the latest bitcoin code and build a new Litecoin client. This will turn wallet encryption back on. Stay tuned.
655  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: January 27, 2012, 06:07:41 PM
So RealSolid changed the block rewards from 32 SC to 5 SC last time so that SolidCoin would reach dollar parity. Well, that didn't work. Let's try it again! But this time, he makes it even more drastic and changes it to 0.07 SC. If this doesn't work, I guess he will then have to change it to 0 block rewards. Then guess what... no one mines anymore and only the trusted nodes mine for coins. Hmm, reminds me of something called fiat currency.

Someone tell me again why dollar parity matters for a crypto currency that is ready for bitcoin's collapse and that will replace the dollar?
656  Alternate cryptocurrencies / Altcoin Discussion / Re: On the Solidcoin Economic Changes on: January 27, 2012, 05:49:50 PM
More SolidCoin monetary policy... nice! Horray for early adopters! Wasn't SolidCoin supposed to NOT award early adopters?
657  Bitcoin / Bitcoin Discussion / Re: This will change Bitcoin as you know it. on: January 26, 2012, 08:06:14 PM
He means he doesn't want his real name and address associated with his bitcoin addresses, which then become associated with his online profile.  I can see the reasoning behind that.

I see. So he could use green address from instawallet or mtgox. Unless of course, he's afraid that they might get subpoena to trace those transactions.
658  Bitcoin / Bitcoin Discussion / Re: This will change Bitcoin as you know it. on: January 26, 2012, 07:46:40 PM
I still want to buy this magazine with fiat (VISA or Mastercard).

Is there no way to do this?

I will not buy BTC online, since it can be tracked back to me, and I will not use the BTC I have, because getting new ones will link them to me, if I purchase them with Visa or mastercard or wire.

Will Barnes & Noble sell them online for fiat, and ship internationally?

This is the first time I read anyone saying that they want to use a credit card instead of btc because it's more anonymous. Really?

If it really matters that much, why don't you send the btc to your mtgox account and then withdraw the correct amount to pay for the magazine? You can even use the green address option so there's practically no way to link that payment with your deposit.
659  Bitcoin / Bitcoin Discussion / Re: This will change Bitcoin as you know it. on: January 25, 2012, 11:50:27 PM
I would recommend that you do away with DRM, and put a bitcoin address (first bits or a link to open up bitcoin app) in the magazine for people to pay for their copy if they got it for free. I believe people who would normally pay for your magazine would send you bitcoins. And those that don't are likely people that wouldn't buy it in the first place, so it's no money lost. Then you can even do the raffles idea and pick a winner each month that gets a free subscription. That would incentivize people to pay for it.
660  Bitcoin / Pools / Re: [110GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: January 25, 2012, 10:49:18 PM
Everyone should start using p2pool. It's the most innovative things since bitcoin itself. It bothers me that Gavin has try to convince Tycho (of deepbit) of his multi-sig proposal before he can implement it, because if deepbit decides to not use the new code, it's dead in the water. And that's so wrong. So people, wake up and use p2pool.

Keep up the good work, forrestv!
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 [33] 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 »
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!