You're seeing a running balance of total coins in. This particular line item does not account for transactions out.
I do not think this is true. If that were the case, the balance in the wallet should have been substantially higher. This is from the blockchain: Balance: 5664261.47074 MIN Transactions in: 93 Received: 10783391.464225 MIN Transactions out: 54 Sent: 5119129.993485 MIN This is from the wallet: 7429075,409108 I don't know what to tell you, mine is accurate. Maybe try a different block explorer? There are 2 listed on the front page. I'm logging off. Have a good one all. |
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Mint is on over 21 exchanges. Those "bagholders" you speak of(feel free to look up the definition of bagholder by the way) are EXCHANGES.
You try to disguise the fact that you are a troll by making semi reasonable arguments. They are never backed up by facts. I encourage people to take a look at your post history. Then they will know you are a troll, and they can put you on the ignore list,...like I'm about to do.
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I know about many addresses, but my wallet has just one. If I check the balance of that address on the blockchain, it is not the same as in the wallet. The wallet has approx 1.7 million coins more.
You're seeing a running balance of total coins in. This particular line item does not account for transactions out. |
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My reasons speak for themselves. You failed to refute any of them.
4. Feel free to go to the blackcoin thread.
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Did the thunderclap happen yet?
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so pray that a whale, with bad intentions, does not get 51% That would cost the attacker about $750,000. Is it really worth it to attack? I mean they are spending 750K to destroy their own money, who would do that? double spend? there will be other flaws... but currently double spend is most likely to occur with a stake of 51% or more. pure pos is untested. we will see what future will bring. i am into mint now as well. ps. it would cost bitcoins. that is why "there is nothing at stake". an early adopter of bitcoin can do this. also the marketcap.. is at highest buy/lowest sell. marketcap only takes highest buy price and multiplies that by coins available. it wouldnt take 750k usd. not even close. so coinmarketcap is not even close to real value. simple math.You see to be completly oblivious to SIMPLE math. 1. There aren't enough coins currently on the market to buy a 51% stake. 2. As soon as someone started to buy many coins, the price would increase exponentially. 3. If anyone were to control 51% it would destroy the value of the coin. Thereby destroying the urge for anyone to acquire so many coins. 4. Not having to do with math. Why the hell isn't anyone asking questions about this on blackcoin's thread. Gee, I wonder. Trolls be gone. |
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I think if someone gets that much stake the main danger is a massive sell off. A canny seller would sell in tiny lots so they wouldn't dump the price before they sold out.
I think the actual interest of anyone who held a 51% position would be to do things that maintain or raise price levels.
Exactly. Also, remember that if someone were to start buying up massive amounts of coins there would be a HUGE pump increasing the cost. And last I checked there were only 600 mil coins for sale on Mintpal to begin with. I hate to keep using peercoin to debunk theories concerning the 51% attack of PoS coins, but they do such a good job. http://www.youtube.com/watch?v=TjL2AgCQDJ0 |
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i have discovered a flaw with current PoS implementation
you can easily do a 51% attack with PoS blocks without needing large holdings
since PoS blocks are generated on a coin age basis, you could create TXO's delayed by a time offset at the minimum TXO cost for a future attack period
so after creating 10000 TXO of 1 MINT separated by 0.5 seconds to make sure 60 consecutive blocks are generated at repeated interval by your wallet 20 days in the future, the attack would last 1 hour and 40 minutes
enough to put the security and function of a coin in question
couple that with the fact the difficulty calculation includes PoS blocks, that would mean difficulty would jump to stratospheric levels making it impossible to mine PoW blocks
are people really not concerned about this? YOU CAN 51% ATTACK ANY POS COIN WITHOUT THE NEED FOR 51% OF SUPPLY OR ANY PoW HASHRATE AT ALLHi all. Just thought I'd share some of the joy we've been dealing with on the Mintcoin thread. Have a good night. |
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im still on the fence can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets ss << nStakeModifier;
ss << nTimeBlockFrom << nTxPrevOffset << txPrev.nTime << prevout.n << nTimeTx;
hashProofOfStake = Hash(ss.begin(), ss.end());
if(CBigNum(hashProofOfStake) > bnCoinDayWeight * bnTargetPerCoinDay)
return false;
im not well enough versed with the code to know what these variable names imply Go ask blackcoin. Seriously. They like to answer tech questions. None of the tech guys are even online in this thread right now. Edit: No worries, I posted it for you. |
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this is what you said on the Zeit forum, over an hour ago: https://bitcointalk.org/index.php?topic=487814.msg5962705#msg5962705"It seemed to make sense from my limited understanding and lack of awareness in the specific algorithms for proof of stake currently looking at the source code, its likely i was wrong if only it wasn't such a disorganized mess i could of avoided this embarrassment" UGH. Go get your Mints people. They won't be cheap forever. |
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The formula is coin age + number of coins. We've seen orphans from people who's coins weren't sufficiently aged, or they didn't have enough of them. These have to be re-staked.
Just based off of that alone, his proposal is impossible. The micro transactions would just be orphaned. Anyway, we've allowed him to take over the thread with a half baked theory, which has now been debunked. Moving on.
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You would still have to get every block in a row. And what are you talking about with transactions? Transactions destroy coin age. The user has no control over when the coins stake.
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looking at the source to double check
Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how. less damage asking on smaller coin forum there should be a few among this community who are well versed with how their coin works right? It is coins * coin age. So the more coins you have and the longer you wait before activating minting, will affect how fast once you start minting it will succesfully get block generation. There are algorithms and randomness controls built into it so that the chance of one person being able to get even 10 consecutive blocks is remote, let alone 60. Overall, PoS/PoW is more secure against a perpetual 51% style attack. Just wait for your confirmations, that is what they are there for. Wait for 200 confirmations if you are worried about security. for PoS generation it is only coin age, if it was what you say, you would generate PoS from 1million MINT in 34seconds im looking at the source atm, i may be wrong Thanks for looking into it, let's just keep calm in here.  |
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from http://www.peercointalk.org/index.php?topic=401.0"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..." This does have me wondering how a pure PoS coin prevents this, since there IS a guarantee that the next block will be PoS... Sounds like a blackcoin problem. |
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Hey anonymous64, I appreciate the thought man, just not the delivery.
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He don't know. HE KNOW FUD
If you have more coins you get the blocks sooner, so to do 60 mints in a row is near impossible. Ya, it doesn't have anything to do with the transactions. The more coins you have, the larger your stake. You would need 51% of coins to take over the blockchain. At which point the coin would become worthless because other people cannot use the coin. Therefore a person would have to be stupid (and rich) to do it. I really don't know what this guy is talking about. People can google the literature on 51% attack and PoS if they like. you're just regurgitating what you have been told. IT DOESN'T MATTER HOW LARGE YOUR STAKE IS FOR BLOCK GENERATION, STAKE SIZE ONLY IMPACTS HOW MANY COINS YOU GENERATE Here ya go buddy: http://www.peercointalk.org/index.php?topic=401.0This guy had the same idea as you, but he asked about it before he posted in HUGE RED LETTERSBy the way, if you could post that huge red letter thing over at blackcoin, that'd be great. that is not the same case It's exactly what you're talking about. Probably where you got the idea for your FUD. Sorry bruh, I got Google too. Edit: Some more info http://www.peercointalk.org/index.php?topic=244.0tl;dr DEBUNKED |
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He don't know. HE KNOW FUD
If you have more coins you get the blocks sooner, so to do 60 mints in a row is near impossible. Ya, it doesn't have anything to do with the transactions. The more coins you have, the larger your stake. You would need 51% of coins to take over the blockchain. At which point the coin would become worthless because other people cannot use the coin. Therefore a person would have to be stupid (and rich) to do it. I really don't know what this guy is talking about. People can google the literature on 51% attack and PoS if they like. you're just regurgitating what you have been told. IT DOESN'T MATTER HOW LARGE YOUR STAKE IS FOR BLOCK GENERATION, STAKE SIZE ONLY IMPACTS HOW MANY COINS YOU GENERATE Here ya go buddy: http://www.peercointalk.org/index.php?topic=401.0This guy had the same idea as you, but he asked about it before he posted in HUGE RED LETTERSBy the way, if you could post that huge red letter thing over at blackcoin, that'd be great. |
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