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161  Economy / Scam Accusations / Re: rpietila's Crypto Kingdom game is a scam, heavily in debt. Do not deposit funds. on: April 30, 2017, 12:30:41 AM
@Stealthcoin

OMG someone scammed Monero core team?  I bet he is on Evans paylist.

A Dash fractional reserve with the debtor controlling a large number of masternodes while being net short Dash is actually the Achilles Heel of Dash.
162  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 29, 2017, 07:00:43 PM
Actually it is relevant as this was a marketing decision to help create the ecosystem which is an intrgal part of speculation. Not commenting on this would be akin to not commenting on the adoption from the dark Markets.

Although I am of the opinion that the impact will be small on the ecosystem and by extension the price as those that got scammed are from what I can see the majority of long term holders that will not be put off of XMR because of this.

I would like to clarify that the XMR part of the game remains fully solvent (although most players with XMR balance have withdrawn now). The debt comes from rpietila creating BTC (B1) in-game that was not deposited with a third party, then delaying withdrawals and now claiming to have it stolen.

Not just XBT (B1) but also EUR (E1). Let us continue this discussion in the proper thread https://bitcointalk.org/index.php?topic=1890786.msg18782403#msg18782403

Edit 1: I should point that this happened only after Crypto Kingdom stopped using an in game currency that was fully backed by XMR, or in other words once Crypto Kingdom was moved of the "Monero Standard".  

Edit 2: This whole affair only serves to illustrate the value of "hard money" such as precious metals or Monero, Bitcoin etc., where the money supply cannot be increased at will, by a "central banker".
163  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: April 28, 2017, 10:49:10 PM

I have participated in an on stage performance of Carmina Burana and I can assure the reader that it has nothing to do with the manipulation of currency markets.
164  Economy / Scam Accusations / Re: rpietila's Crypto Kingdom game is a scam, heavily in debt. Do not deposit funds. on: April 28, 2017, 05:31:48 PM
He is claiming to unilaterally change the terms of the deals.

1. All debts denominated in non-Markka, will be converted to Markka using volume-weighted Agora averages for the 24 hours following the timestamp of this post, earliest when the time is up.

No they will not, unless agreed by both parties.

I do not agree that the 2.5 BTC+interest that you owe me (and managed player) will be redenominated or settled in anything other than BTC.

Please pay your debts and stop doubling down on stupid by suggesting that you pay a debt agreed to be paid in BTC (in fact that was rather explicit) using your own worthless in-game fiat.

It is actually way worse than that since the in game currency Markka, M, is deliberately being manipulated by rpietila in order to crash the in game values of the debt in terms of M to make the debt even more worthless.

Consider the following in game command issued earlier today. This is from the Crypto Kingdom game log.
Code:
452555 	Create 	E1 	10,000,000 	New (5) 	Zechariah (1) 		28.04.17 (13:41)
So what exactly does the in game item E1 represent? The answer lies in the description.
Quote
1 euro deposited in Area Command Malla Bitcoin Castle.
For those who are not familiar with "Malla Bitcoin Castle" it is actually a property in Estonia purchased by rpietila in later 2013 or early 2014. Here is a picture of the property from 2014 https://cointelegraph.com/news/finnish-investor-plans-to-turn-estonian-castle-into-a-bitcoin-center. Since the creation of the 10,000,000 E1, above E1 have been dumped on the in game market by Zechariah, rpietila's character in order to depress the in game value of E1 and indirectly B1. We must keep in mind that the fall of the in game value of E1 triggered the doubling of the M money supply from 2,000,000,000,000 to 4,000,000,000,000. Depressing the in game value of E1 and B1 in terms of M has the effect of further devaluing the debts before "settlement".

I see two scenarios here.
1) rpietila has 10,000,000 EUR stashed away after the so called fire, actions of others etc., that supposedly prevented him from honoring his obligations. In this case the question becomes why not use the EUR to settle the obligations?
2) Or the 10,000,000 EUR actually do not exist and the 10,000,000 E1 were created out of thin air.

To me coming on the heels of the post quoted below either scenarion above is nothing short of a fragrant abuse of rpietila's position within Crypto Kingdom, including breach of trust, and a very strong indication of bad faith towards the creditors.  

Official Announcement

Whereas,
Quote from: ##crypto-kingdom
Zechariah: Created Instagram acct. As usual, I give my greatest fan 1,000,000,000 and then the ones who Follow me (so that I see it) get 1/2, 1/3, etc. of the amount WITHOUT LIMIT.
[09:16am] • Zechariah forgot to add: “Hear ye, all peoplez”
[09:16am] Zechariah: https://www.instagram.com/risto.pietila.1903/
[09:20am] Zechariah: Check this: http://listenonrepeat.com/?v=pH-FgZg-ZeA#%E2%99%AA_Nightcore_-_Animal
[09:39am] Marquess_Loaf: icecube tray proile pic; cool
[09:40am] Malgarthius2 left the chat room. (Ping timeout: 245 seconds)
[09:42am] Zechariah: Marquess_Loaf: Sir, see the spike in the ice, I always get them when energy is high  - - - do you?
[09:43am] Marquess_Loaf: ooo bucket joined us
[09:44am] Marquess_Loaf: my ice is produced via covered trays, so no spikes produced
[09:49am] hannamaaria joined the chat room.
[09:56am] Zechariah: Marquess_Loaf: ooo what is the similarity between gen 1:1, john 1:1 and the has used in crypto
[09:56am] Zechariah: [09:55am] Zechariah: it’s a hash
[09:56am] Zechariah: [09:55am] Zechariah: both are secured by a nonce
[09:56am] Zechariah: [09:55am] Zechariah: in crypto, you need to crack 2^256 if bruteforce (am I correct)?
[09:57am] Zechariah: CQ (control question): Does anyone understand that I have cracked SHA256?
[09:57am] Marquess_Loaf: its a hash as in there is something encoded?
[09:57am] Marquess_Loaf: say pi, all the strange stuff for gen 1:1 in hebrew, etc
[09:57am] Marquess_Loaf: i think they only recently cracked SHA1
[09:59am] Marquess_Loaf: might need newliberty in here for this sort of stuff
[09:59am] Zechariah: I have a device that can create 2 privkeys that start with the same string.
[09:59am] Marquess_Loaf: https://miguelmoreno.net/wp-content/uploads/2013/05/fYFBsqp.jpg
[09:59am] Marquess_Loaf: not sure how true this is
[10:00am] Zechariah: I think it can be used for very funny things, notwithstanding the fact that the feat itself did not require for the heat death of the Universe:CK to happen..
[10:00am] Zechariah:
[10:00am] Marquess_Loaf: i do know i read something that the coding on BTC was clever as it is quantum proof
[10:00am] Marquess_Loaf: as long as people use the system as designed with single use addresses
[10:00am] Marquess_Loaf: andreas antonopoulos had video on this
[10:05am] Zechariah: Bullshit.
[10:05am] Zechariah: Bitcoin is toast - how else would I say that I destroy it?
[10:05am] Zechariah: I did not destroy anything, it was flawed and now just see where the dust settles.
[10:06am] Zechariah: I wonder if stupid people continue to use it even after they get as much Markka as they wish (and the goldclub is concerned about fucks and fucking, NOT currency)...
[10:06am] Odin left the chat room. (Ping timeout: 260 seconds)
[10:09am] sznikers: its kinda climbing high, maybe dust will setle above 2k$ price ...
[10:11am] Zechariah: Did you hear that every bitcoin of mine was (again) promised to have Embassy security, was in the XI level area (where all whom I do not kiss, physically die in an average 30 days since realising I am GoD - kiss me please!!), was torched to fire, flooded with water, saved, handpicked to dry, and once the process was completed, 2+2 goons walked in to disrespect sign and tried to kill me, I walked away and am now sorta hiding.
[10:12am] smooth: Marquess_Loaf> i do know i read something that the coding on BTC was clever as it is quantum proof <= not accurate
[10:12am] McDuffy left the chat room. (Ping timeout: 260 seconds)
[10:13am] smooth: 1. the original code did not use quantum resistant addresses (satoshi's coins or other early coins could be easily stolen by a sufficiently powerful quantum computer)
[10:13am] smooth: 2. the current outputs are quantum resistant in the sense that the elliptic curve public key is not revealed until it is spent
[10:14am] Marquess_Loaf: yeah 2 is what i remember
[10:14am] Marquess_Loaf: not until spent yes
[10:14am] Marquess_Loaf: that was it
[10:14am] smooth: but #2 still leaves a window for a quantum attacker. a slow quantum computer could not crack but a fast enough one could
[10:15am] McDuffy joined the chat room.
[10:15am] Marquess_Loaf: i am sorry you are in hiding Zechariah ; hope you were able to recover a good number of paper wallets
[10:15am] smooth: of cracked before it is confirmed then it becomes a matter of who pays miners more, which likely means miners get most of it
[10:15am] smooth: not a good outcome overall. best case is to switch to something more quantum-resistent before needed
[10:16am] Zechariah: smooth: How long does it take to create a valid privkey that is 40*base58 long, and then another that contains the first one as the first 40 chars?
[10:16am] smooth: also quantum computer could enormously increase mining difficulty which means if one miner gets it first, could completely dominate mining and destroy security
[10:17am] smooth: Zechariah: i dont know, although the second sounds like a long time
[10:17am] Zechariah: smooth: I have habitually created such since 2013, I am just a modest guy and not brag about it.
[10:17am] Odin joined the chat room.
[10:17am] Zechariah: I have multiples. Yes I know it is impossible to have 3 privkeys start with the same 40 alphanumerics but I did not ask for permission, just did it.
[10:18am] smooth: oh priv key, thats easier
[10:18am] smooth: almost anything is a valid private key, just needs to follow a few rules
[10:18am] Zechariah: smooth: oh ok so it’s not anything special to have a fan of privkeys.
[10:18am] Zechariah: Sorry about that.
[10:18am] Zechariah: What is difficult?
[10:18am] smooth: vanity addresses (public key with specified chars)
[10:19am] smooth: becausse public key is private key times a point, which is a one-way function
[10:20am] smooth: anyway im not expert on this stuff at all, just vaguely familiar. luigi would know much better
[10:21am] ChrisPop joined the chat room.
[10:21am] ChrisPop: hello,everyone!
[10:22am] ChrisPop: @Zechariah I have just followed you on Instagram.
[10:22am] Zechariah: ChrisPop: Cool.
[10:22am] Zechariah: Every millionth follower gets a special prize
[10:23am] Marquess_Loaf: Zechariah: is gonna be new pewdiepie
[10:23am] Zechariah: And the first million may transfer the amount: 1000000000/(how many followers was there when YOU followed)
[10:24am] ChrisPop: Yeah,he needs to start making some vlogs.
[10:25am] McDuffy: I was nr 3 (andsoitistoo)
[10:25am] ChrisPop: I am no.9  (ChrisPop)
[10:26am] Odin: I don't have Instagram
[10:26am] ChrisPop: Create one Odin.
[10:26am] Marquess_Loaf: how we see order?
[10:26am] ChrisPop: There is a start to everything.
[10:28am] Marquess_Loaf: guys game is ded; dump your CAN, gold, FUCK, and SW5 on me
[10:28am] Marquess_Loaf: maybe it is from top to bottom on instagram
[10:28am] Marquess_Loaf: i was #2 in that case maybe
[10:30am] McDuffy: I know i was nr 3 as there was only 2 others at the time
[10:30am] Zechariah: Marquess_Loaf: Next time I will specify that ppl who identify as +-(***) are OUT
[10:30am] Zechariah: betamales, go fuck yourselves
[10:30am] Zechariah: *kindly
[10:30am] Odin: Hahaha:D
[10:31am] ChrisPop: CAN doesn't spoil right?
[10:31am] Odin: 90% of the crypto market has just been ruled denied access.
[10:31am] Odin: Love it
[10:32am] Marquess_Loaf: is +- beta male
[10:32am] Marquess_Loaf: i guess instagram is bottom to top for order
[10:33am] Marquess_Loaf: who is andsoitistoo they seem first in that case
[10:37am] Zechariah: ChrisPop: I think it has max spoil of 5% or not even that; in practise no spoil
[10:38am] Zechariah: (even then, spoil is almost provably fair)
[10:38am] ChrisPop: Okay,good.
[10:39am] ChrisPop: Zechariah: I have sent you a response on BCT.
[10:40am] sammy007: Zechariah you really think that CK is going viral with new accounts? You still don't know that 500 accounts farmed recently to get free can and sell it on market?
[10:43am] Odin: I am a follower to now.
[10:45am] Odin: Following does seem like a beta move i must say.
[10:45am] Odin:
[10:46am] Odin: Fixing the existing problems before trying to take it viral again would be wise here.
[10:48am] Zechariah: Yes we move to CK:Universe
[10:48am] Zechariah: That will take as many players as have money
[10:49am] Zechariah: And the richest one will sponsor all the girls in
[10:50am] ChrisPop: What happens with the Clans module? Will it be still implemented?
[10:51am] sammy007: !marketbuy can 250000
[10:51am] ckBot: sammy007: Market buying 250000 units of can would cost 474,548,900m and bring the unit price to 2,000m.
[10:51am] sammy007: !marketbuy can 500000
[10:52am] ckBot: sammy007: Market buying 500000 units of can would cost 974,548,900m and bring the unit price to 2,000m.
[10:52am] sammy007: !marketbuy can 800000
[10:52am] ckBot: sammy007: Market buying 800000 units of can would cost 1,861,421,450m and bring the unit price to 7,550m.
[10:52am] ChrisPop_ joined the chat room.
[10:52am] ChrisPop left the chat room. (Quit: Page closed)
[10:53am] Zechariah: ChrisPop: I don’t design clans any more, my personal upgrade path is directly to CK:Universe
[10:53am] Zechariah: It actually works in a googlesheet in the beginning.
[10:53am] Odin left the chat room. (Ping timeout: 260 seconds)
[10:53am] ChrisPop_: You know what it's best for our Kingdom,Zechariah. I trust your decisions. In a nutshell how will CK:Universe work?
[10:54am] Odin joined the chat room.
[10:55am] Odin: So M will be used to sponsor girls?
[10:56am] moneromooo: What is that shit I'm reading...
[10:56am] Odin: For what purpose?
[10:56am] moneromooo: Blaming everyone else but poor risto aren't we
[10:56am] smooth: a fantasy about some new version
[10:56am] moneromooo: And a dead guy who's not here to speak for himself at that. Asshole.
[10:56am] smooth: despite zero trust and unpaid debts
[10:57am] smooth: but people are going to deposit money
[10:57am] smooth: right
[10:57am] Odin: Maybe if debts are paid to let the girls know Markka is worth something.
[10:57am] smooth: that would be a start
[10:58am] Odin: And what would the girls do in return for the sponsorship?
[10:58am] ChrisPop_: Guys,let's give Zechariah a chance. He said he was very busy in the last time so that might be the reason he couldn't make the payments.
[10:58am] Zechariah: moneromooo: Don’t talk evil of dead ppl. David was a Cardinal after all.
[10:58am] moneromooo: Fuck off, cunt.
[10:59am] Zechariah: ChrisPop_: It also hinders me that I don’t have access to any BTC, XMR, EUR, USD, gold or silver, because the 2+2 goons who tried to kill me (obviously nothing even happened - still alive, dick is hard and have 10 fingers) stole it all.
[10:59am] Odin: Also the XMR
[11:00am] Zechariah: But nvm - they don’t know how to use them, cannot destroy them, so I will collect my own in a great swoop that requires cleanup of body fluids if any of the darknessguys has a gun he dies first.
[11:01am] ChrisPop_: So you were robbed Zech? How could they steal all your btc,xmr,eur,usd,gold,silver? Haven't you kept your private keys in safe place and the fiat in bank accounts?
[11:01am] Zechariah: If 2 contract killers cannot finish me (alone in a place with (double) Embassy security, unarmed, drunk, stoned, tired, calling them ‘fuckers’, etc.) in 60 minutes, obviously no one can kill me, ok?
[11:01am] Zechariah: I do not need to kill people unless they refuse to kill themselves in the time allotted.
[11:02am] Zechariah: And these 4 ppl have 30 days to kill themselves, or get their forehead bloody for kissing the ground in front of the person I prefer to observe their penance.
[11:03am] Zechariah: Any volunteers for the job? You get paid according to the blood in the fuckers’ foreheads when they kiss the ground according to your orders...
[11:03am] Odin: If i leave my fridge open and mouses steal my cheese.
[11:03am] Zechariah: We do not NEED any other alphamales
[11:03am] Odin: Do i get mad at the mouse for stealing?
[11:03am] Zechariah: And the number of betas is also quite high atm.
[11:03am] ChrisPop_: You said they were contract killers. Who stopped them from killing you>?
[11:04am] Odin: Or do i take responsibility like a man and close my fridge.
[11:04am] moneromooo: Come on... He's delusional... imagining himself in a james bond movie...
[11:04am] Zechariah: ChrisPop_: Me. Since the only other one who even paid a visit was Ron, and he walked away before they even threatened him.
[11:04am] Zechariah: moneromooo: 30 days ok
[11:04am] moneromooo: I have not asked you to address me.,
[11:04am] Zechariah: I said that already, but no blood required.
[11:05am] Zechariah: moneromooo: FUCK AWAY FROM MY GAME OR SUBMIT 1 2.
[11:05am] Zechariah: I am getting tired of betas.
[11:05am] moneromooo: Poor Zechariah getting antsy ?
[11:05am] Odin: Then stop making the situation attractive for betas sir.
[11:06am] Odin: Let men put in work for their money.
[11:06am] Odin: Instead of giving it all away to woman and betas.
[11:06am] moneromooo: Maybe Zechariah thinks he might have chosen another path before all the shit started ? Might not be too late to change course.
[11:07am] Zechariah: moneromooo: Poor? Hell yeah. I have EUR50 at hand and no friends.
[11:07am] Zechariah: Antsy? Nope, this is regular everyday motherfucking bullshit and then you learn how to do w it.
[11:07am] ChrisPop_: Zechariah: How did they steal your assets? You are smart so I'm sure you kept them safe.
[11:07am] moneromooo: If we believe the former, then can't you work out why it all happened ?
[11:07am] Zechariah: http://listenonrepeat.com/?v=W9zzWWq2uN8#Aikakone_-_Aarresaari_(Official_video)
[11:08am] Zechariah: moneromooo: It is you who does not understand. I do.
[11:08am] moneromooo: Anyway. You have a knack for pissing people off. Find it, turn it off. That'sll go a long way.
[11:08am] moneromooo: Busytnow.
[11:09am] McDuffy left the chat room. (Ping timeout: 260 seconds)
[11:09am] Odin: Being humble shows great confidence.
[11:09am] Zechariah: If you spent even 15 minutes, 4-6 times per day, for reading my communication, you’d see who I am and it is normal I only give fuck about souls, since all money belongs to ME, the Creator.
[11:12am] steep joined the chat room.
[11:13am] Odin: Can't you make some new value materialize then?
[11:14am] serje: Zechariah 19 followers now
[11:15am] Zechariah: serje: target is 1,000,000 in the following 166 hours
[11:15am] Zechariah: We are doing great
[11:15am] Zechariah: Just push it gently.

So, therefore:

1. All debts denominated in non-Markka, will be converted to Markka using volume-weighted Agora averages for the 24 hours following the timestamp of this post, earliest when the time is up.

2. Let everyone live the rest of their life in happiness, and - if this is not reasonable - quit wasting my time, else.

3. 11:36 Peking Duk

At the heart of this issue lines the attempt to on the part of rpietila to manipulate the in game Crypto Kingdom markets in order to rise the market cap of M to 100,000,000 EUR. This was attempted with a combination of rpietila own funds since a significant portion of the B1, B2 and E1 was actually paid and the issuance of in game tokens B1 and E1 that one can surmise are not backed by XBT or EUR, since 1) They have not been honoured and 2)  A attempt has been made to settle this debt by further manipulation of the in game token E1 and M. I must say that I consider these debts to be the personal debts of Risto Pietila and not the liabilities of Crypto Kingdom as a whole.

To me the critical evidence of bad faith here is the unilateral attempt to settle the personal debts of Risto Pietila in terms of M, combined with the issuance of the 10,000,000 E1 on 28.04.17 (13:41) and the use of newly issued E1 to attempt to further devalue the debts, by manipulating the market of E1 in terms of M.
165  Alternate cryptocurrencies / Speculation (Altcoins) / Re: CryptoKingdom Markets on: April 28, 2017, 05:37:39 AM
I don't know, I used all three depository shares and converted to USD, found a bunch of averages and came up with thinking this is worth anywhere from 1.06 million USD to 127.889 million USD, with a 'backing' of 3.042 million USD, hence the name of the sheet being crypto mindfuck:



This doesn't take into account any value outside the in-game exchange of depository shares and assumes that all depositories are legitimate.



Even if the depositories were legitimate namely fully funded they still paint a false picture if there is a deep pocketed participant dumping large amounts of XBT and EUR on the market. In this situations and assuming no fractional reserve there are essentially two possibilities:
1) The deep pocketed participant ends up owning the entire asset while over paying for it
2) The deep pocketed participant gives up trying to manipulate the price, the price goes back to its proper level, in many cases after over shooting to the downside. All this does is provide an opportunity for those who sold to buy back at a substantial profit.
166  Alternate cryptocurrencies / Speculation (Altcoins) / Re: CryptoKingdom Markets on: April 28, 2017, 12:43:52 AM
In the midst  of all of this turmoil a valid exercise is estimating the actual value of Markka and thereby obtain an estimate on the market cap of Crypto Kingdom.

If we consider that the only reliable depository for withdrawals is M3 - XMR at least while saddam is running it. At around 7:00 UTC April 27, 2014 I performed an analysis that started with the purchase on the open market of 1 M3 0.01 XMR for 599,997 M.  This is equivalent to 59,999,700 M for 1 XMR. or a market cap for the 2,000,000,000,000 M of 33,898.305 XMR. Another evaluation is if we consider the holdings of Coinshop of M3 at 300,000 M3 or 3000 XMR I would consider 3000 XMR to be the lower limit, since this reflectively only values the "foreign currency" holding and places no value on the game it self.

As for the pending B1 and E1 withdrawals these are essentially a claim on Risto Pietila and not on Crypto Kingdom; however Risto Pietila though his character Zechariah own approximately 30.85% of M. This could be significant if part of these claims are settled in M and the new holders of M decide to head for the exits.

So what is the market cap of Crypto Kingdom. Based on the above analysis on can argue for ~34,000 XMR or ~658,000 EUR. Based upon that latest M3 ask of 400,000 M on can argue for about  1,000,000 EUR. At the other extreme based upon the Coinshop holdings we get around 58,000 EUR.

The above is all a far cry from the peg of 20,000 M = 1 EUR or a 100,000,000 EUR market cap.

Edit: I stand by my position that the 10,000 M = 1 EUR peg now 20,000 M = 1 EUR peg was an incredibly fiscally imprudent idea, and has resulted in what amounts to an exodus from CK. Had even a minuscule portion of the funds that were dedicated to this ill conceived currency peg been spent on the actual development of the game it is quite possible that over time a significantly higher valuation than 100,000,000 EUR could have occurred. Unfortunately this much more sane approach was not the path chosen.
167  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: April 20, 2017, 10:48:31 PM
Okay, so, that's B1.

If I want to withdraw E1, how do I start my procedure?
I can't just give new and wait for a call?



I suggest that you read the following post very carefully. https://bitcointalk.org/index.php?topic=819073.msg18652729#msg18652729 and set  the E1 withdrawal so that after the fees you have a multiple of 500 EUR
168  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: April 20, 2017, 08:07:58 PM

Interesting. This whole mess is a direct result of trying to force an artificial peg of 10,000 M to 1 EUR or artificially manipulate the Markka exchange rate.

The solution is simple
1) Abandon the 10,000 M = 1 EUR peg, and artificial Markka manipulation.
2) Fully fund the foreign currency depositories with the right amount of each currency to back the issuance of b1, m3 and e1
3) In the case of the EUR depository provide other options for deposits and withdrawals. Wire Transfer, SEPA. etc. Also for EUR withdrawals provide cash denominations other than 500 EUR. At the very least if the EUR depository is so illiquid provide proper market making based upon the XMR/EUR and XBT/EUR market rates.

Allowing this situation to continue is simply eroding confidence in CryptoKingdom.

Edit 1: As I was making this post I just received 50 XBT at this point 0 confirmations.
Edit 2: 2 Confirmations
Edit 3: 4 Confirmations - Funds cleared by the Bitcoin network
169  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: April 19, 2017, 07:35:42 PM
There are not enough XBT to back all the b1 or EUR to back all of the e1. This is combined with a form of exchange controls. EUR withdrawals are only allowed in cash in person in Tallinn Estonia, XBT withdrawals are subject to certain delays unless one pays a premium for a faster withdrawal (B2).


If you want delivery of your B1/B2/E1, you can take it as follows:

GIVE B1 amount 1 [address] => If (amount-10) mBTC has not been sent to address in 12 matrix-hours from changelog timestamp of this; amount += 0.01*amount, each full hour.

GIVE B2 amount 1 [btc-address] => If (amount-10) mBTC has not been sent to address in 12 matrix-hours from changelog timestamp of this; amount += 0.01*amount, each full hour.

GIVE E1 amount 1 [prio5] => If (amount-100) Euro has not been surrendered to hand of courier in the Throne Room in 336 matrix-hours from changelog timestamp of this; amount += 0.01*amount, each full hour. Total maximum 10000*500 EUR banknote(rounded down (your loss) to nearest unit), first come first served.

GIVE E1 amount 1 [prio4] => If 0.95*(amount-100) Euro has not been surrendered to hand of courier in the Throne Room in 48 matrix-hours from changelog timestamp of this; amount += 0.01*amount, each full hour. Total maximum 100*500 EUR banknote(rounded down (your loss) to nearest unit), first come first served.

GIVE E1 amount 1 [prio3] => If 0.90*(amount-100) Euro has not been surrendered to hand of courier in the Throne Room in 12 matrix-hours from changelog timestamp of this; amount += 0.01*amount, each full hour. Total maximum 10*500 EUR banknote(rounded down (your loss) to nearest unit), first come first served.


The following apply only once per [person;encounter]  with SA Risto, General (meaning: only one exchange per meeting me please & 1 matrix-hour apart in any case):

Give 10,000,000 Markka certificate to Risto's hand => Gain 2*500 EUR banknote to your hand.
Give 5,000,000 Markka certificate to Risto's hand => Gain 1*500 EUR banknote to your hand.
Give 2,000,000 Markka certificate to Risto's hand => Gain 200 EUR in banknotes to your hand.
Give 1,000,000 Markka certificate to Risto's hand => Gain 100 EUR in banknotes to your hand.
Give 500,000 Markka certificate to Risto's hand => Gain 50 EUR in banknotes to your hand.
Give 200,000 Markka certificate to Risto's hand => Gain 20 EUR in banknotes to your hand.
Give 100,000 Markka certificate to Risto's hand => Gain 10 EUR in banknotes to your hand.

Thank you for clarifying this. There is still a massive spread here between the XMR and EUR markets.  Like roughly 5x more expensive for XMR vs EUR, although not like the prior insane spreads.
170  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: April 18, 2017, 11:39:14 PM
m is no longer backed by any external currency - it is merely the game currency to buy ingame items.  The CK shares were turned into m.

m3 is backed by XMR
b1 is "supposed to be" backed by BTC
e1 is "supposed to be" backed by EURO

...

What does "supposed to be" mean?

...
It means a high probability of a fractional reserve. There are not enough XBT to back all the b1 or EUR to back all of the e1. This is combined with a form of exchange controls. EUR withdrawals are only allowed in cash in person in Tallinn Estonia, XBT withdrawals are subject to certain delays unless one pays a premium for a faster withdrawal (B2). I posted on exchange controls in this post https://bitcointalk.org/index.php?topic=1850565.msg18633169#msg18633169 and the distortions this creates in the marketplace on this post. https://bitcointalk.org/index.php?topic=1850565.msg18616745#msg18616745
171  Alternate cryptocurrencies / Speculation (Altcoins) / Re: CryptoKingdom Markets on: April 18, 2017, 02:19:11 AM
Anyone following the depository markets in CK has to conclude that trying to peg Markka to Euro at 10,000 M = 1 EUR is at current market values is pure fiction.

Historically states have maintained this kind of fiction by imposing foreign exchange controls, including different forms of the "same" currency, and or course restricting and even prohibiting the holding of foreign currencies. The point of exchange controls is to preserve the foreign exchange reserves of the sovereign, while maintaining the fiction of a higher valuation of the national currency than its actual market value.  In the case of CryptoKingdom the foreign exchange consists primarily of Monero (XMR), Bitcoin (XBT) and now Euros (EUR).

I am providing two links one historical and one modern on the subject of exchange controls for those who may not be familiar or have actually experienced this issue.

http://www.bankofengland.co.uk/archive/Documents/historicpubs/qb/1967/qb67q3245260.pdf
http://www.linklaters.com/pdfs/mkt/london/Eurozone-Bulletin-Capital-Exchange-Controls.pdf

I personally have experienced foreign exchange controls from the 1960's until the 1990's.
172  Alternate cryptocurrencies / Speculation (Altcoins) / Re: CryptoKingdom Markets on: April 16, 2017, 09:34:44 PM
Here is a snapshot of the CryptoKingdom depository markets and their pricing in terms of  Markka (M) and Monero (XMR)

In terms of Markka

M3 (XMR)
32,789  (Ask)          32,464  (Bid)

B1 (XBT)
184,149   (Ask)     182,321 (Bid)

E1 (EUR)
90,000   (Ask)       10,201  (Bid)

Now here is where it gets very interesting. I used the mid market price for M3 (XMR) 32626.5 and recalculated the prices in terms of Monero (XMR) and compared them with the external free markets

M3 (XMR)
1.005      (Ask)     0.995  (Bid)        1.000

B1 (XBT)
56.44      (Ask)    55.88  (Bid)           57.92 (Market price from Coinmarketcap https://coinmarketcap.com/#BTC)

E1 (EUR)
0.02758  (Ask)        0.00313  (Bid)       0.05181 (Market price from Coinmarketcap https://coinmarketcap.com/#EUR)

Can someone please explain to me why anyone would sell EUR for 0.00313 XMR each (319.5 XMR/EUR) when the current market value is more like 0.05181 XMR (19.30 XMR/EUR)? We are not talking futures contracts here or are we?
173  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 15, 2017, 01:01:36 AM

P.S. {Edit} BTW the hard fork is over?  Already?  I thought it was gonna be this weekend... hmm

It's really that hard to perform a non-contentious protocol upgrade.

Also it seem more and more this paper by the Zcash people was a hit job, with a domain registered a few days ago and published around the HF (few hours ago).

Yep this field is that nasty.

The key is non-contentious
174  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 14, 2017, 08:52:43 PM
This is precisely why we should actively be fighting an XMR vs SNARK war and leave lesser 'competitors' to rot.

You mean we should be slagging off Zcash instead of slagging of Dash?

Question: What flaw is present in both Zcash and Dash?
Hint. Monero just forked in order to improve on its solution to this flaw.
175  Alternate cryptocurrencies / Speculation (Altcoins) / Re: CryptoKingdom Markets on: April 14, 2017, 03:33:51 PM
I am re posting here the post on the EUR (E1) markets that was deleted from the main CK thread.

1. Earliest 6 game-days from this notice, every single FUCK will be taken from its owner and consumed with no obvious effect. (Multiple FUCKs are unaffected.)

2. 1*E1=10,000*M peg was removed from the marketmaking. E1 (as well as everything else) floats freely now, infinite ladder by Coinshop.

3. Currently circulating M certificates will retain fixed conversion (EUR 10 in banknotes for 100,000 Markka in certificates received and vice versa).

4. Every time the price of E1 reaches 7,000*M, each M will give 1*M newdividend (ie. item:M quantity doubles and percentage ownership is unaffected).

5. Certificates are excluded from the dividend, so it is possible to keep a part of your stash as darknessmoney (cash), but the lightmoney (changelog) pays dividends over time.

Here are my thoughts on all of this.

Markka, M, is both the ingame currency for CryptoKingdom and equity in CryptoKingdom itself, since it is CK re-denominated. This is like using stock in Linden Labs rather than Linden Dollars as the in game currency in Second Life. Personally I find the idea very appealing since effectively CryptoKingdom is owned by its players.

Pegging M to EUR made no sense at all. This was aggravated by an artificially high price about 3.5x the market rate and highly restricted market for EUR withdrawals. So to say the least I am very pleased that this artificial 1*E1=10,000*M peg was removed from the marketmaking and E1 will be allowed to float freely. Nevertheless E1 is to say the least very inefficient for deposits and withdrawals, especially when compared to M3 and B1. It would make sense to do market making for E1 based upon M3/M and B1/M rates and the EUR/XMR and EUR/XBT rates.

Re-denominating M based upon the market value of E1 makes sense to me provided that that it is based upon proper market discovery, which in practice may involved the M3/M and B1/M rates and the EUR/XMR and EUR/XBT rates.

I fail to see the point of a separate item for E1 certificates unless these certificates charge or pay interest. If someone wishes to hold EUR in CK why can't they just hold E1?

Edit: A stock split and a stock dividend are in reality the same thing, although some tax authorities attempt to distinguish between the two.
176  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 04, 2017, 08:57:09 PM

...

So it is a limit on blocksize growth based on the median which will change with the median as that floats, correct?

Yes
177  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 04, 2017, 06:40:24 PM
...

Thx, yup. I ninja'd a question but you answered before I saved lol.

 Does "The Maximum allowed blocksize, BlkSize, is 2MN" mean there is a penalty cap? Therefore as time progresses and blocksize naturally increases this will become cheaper?

It is actually a cap on the rate of growth of the blocksize, once the penalty equals the block reward.
178  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 04, 2017, 06:13:49 PM
...

Thanks for this, I missed it in the main thread. I will take some time later and fully digest it as a few questions come to mind, specifically things like when an owner of a botnet sets it to only mine the spammed blocks (and has a large enough stash that they do not need to purchase coins) and blockspamming of small blocks when the variable cost kicks in (not sure when this is happening at all). Anyway when I'm up to it I'll try to fully digest this. I'm going to have to change the simplicity's sake to readabilities sake first. Smiley I hate my lack of short term memory, it makes it tough to work with assigned variables.

On thing to keep in mind here is that when the cost of the spam attack becomes comparable to that of a 51% attack then of course the spam attack can become possible. 
179  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 04, 2017, 05:00:24 PM
Fees are just a side effect of the actual usage of a blockchain network. ...

Correct, which is why Monero got it right and has a dynamic fee system that will make fees cheaper as usage increases (inversely proportional), genius work ArticMine.

I'm still confused on why this does not open an attack vector with chain spam? Is there a critical mass point?

Sorry but I stopped reading progress when I couldn't get the info I needed to vet the RPC (at least the "Scientists" found that vector afterwards). Is there a quick synopsis of this discussion, I can never find irc logs.

maybe you should PM ArticMine and ask him directly.

He reads this thread so I'm sure he'll drop a quick synopsis.

I covered this type of attack in this thread back in January 2016.

ArticMine PMed me after I wrote that flaming post, and said he would reply after studying my posts. He has not yet replied. Does that mean I am correct and there is no solution for Monero. I think so.

It is fundamental. Afaics, you'd have to completely rewrite Moaneuro. Tongue

Rewrite Monero, is not necessary at all but some documentation on how the Cryptonote adaptive blocksize limits actually work is needed, especially given the formula in section 6.2.3 of the Cryptonote Whitepaper is wrong. https://cryptonote.org/whitepaper.pdf. My response will come in time.

I will start by examining the Cryptonote Penalty Function for oversize blocks. This is critical to understand any form of spam attack against a Cryptonote coin. From the Cryptonote whitepaper I cited above the penalty function is:

Penalty = BaseReward (BlkSize / MN - 1)2

The new reward is:

NewReward = BaseReward - Penalty

Where MN is the median of the blocksize over the last N blocks
BlkSize is the size of the current block
BaseReward is the reward as per the emission curve or where applicable the tail emission
NewReward is the actual reward paid to the miner
The Maximum allowed blocksize, BlkSize, is 2MN
The penalty is only applied when BlkSize > (1 + Bmin) MN Where 0 < Bmin < 1 In the Cryptonote whitepaper Bmin = 0.1.
 
The error in the Cryptonote Whitepaper was to set NewReward = Penalty

For simplicity I will define:
BlkSize = (1+B) MN
BaseReward = Rbase
Penalty (for a given B) = PB
NewReward (for a given B) = RB

The penalty for a given B becomes:
PB = RbaseB2
While the new reward for a given B becomes:
RB = Rbase(1 - B2)
The first derivative of PB with respect to B is
dPB / dB = 2RbaseB

In order to attack the coin by bloating the blocksize the attacker needs to cause at least over 50% of the miners to mine oversize blocks and for an expedient attack close to 100% or the miners to mine oversize blocks. This attack must be a maintained over a sustained period of time and more importantly must be maintained in order to keep the oversized blocks, since once the attack stops the blocks will fall back to their normal size.  There are essentially two options here:

1) A 51% attack. I am not going to pursue this for obvious reasons.

2) Induce the existing miners to mine oversize blocks. This is actually the more interesting case; however after cost analysis it becomes effectively a rental version of 1 above. Since the rate of change (first derivative) of PB is proportional to B the most effective option for the attacker is to run the attack with B = 1. The cost of the attack has as a lower bound Rbase but would be higher, and proportional to, Rbase  because miners will demand a substantial premium over the base reward to mine the spam blocks due to the increased risk of orphan blocks as the blocksize increases and competition from legitimate users whose cost per KB for transaction fees needed to compete with the attacker will fall as the blocksize increases. The impact on the coin is to stop new coins from being created while the attack is going on. These coins are replaced by the attacker having to buy coins on the open market in order to continue the attack. The impact of this is to further increase the costs to the attacker.

It at this point where we see the critical importance of a tail emission since if Rbase = 0 this attack has zero cost and the tragedy of the commons actually occurs. This is the critical difference between those Cryptonote coins that have a tail emission, and have solved the problem, such as Monero and those that do not, and will in a matter of time become vulnerable, such as Bytecoin.



The fee design in Monero with the tx fee per byte proportional to the block reward divided by the median blocksize is based upon this analysis. There is a critical consequence of this that is very relevant to price speculation. While it is relatively straight forward to retrofit coins with a fixed minimum tail emission such as Ethereum, Dogecoin and Friecoin with an adaptive blocksize similar to that in Monero. There is no solution that I am aware of for coins with a falling block reward such as Bitcoin, Litecoin, Ethereum Classic and Dash. In my opinion the real genius here was adding the tail emission to Monero when it was forked from Bytecoin back in 2014. This was before my involvement with the Monero project.

Edit 1: The tail emissions in Monero, Ethereum, and Dogecoin are generated by inflation. In the case of Freicoin the tail emission is generated by demurrage. The Freicoin case is interesting since it can be a model for securing sidechains with a fixed maximum number of coins. If the sidechain is intended to be used for active transactions with a high velocity of money as opposed to long term wealth preservation then demurrage is a very viable option.

Edit 2: The tail emission in Monero of 0.6 XMR per block produces a maximum inflation rate of just under 1%. This is below the historical inflation rate of gold. So while Monero has a inflation rate to secure the coin it also has a "hardness" that is at least as strong as that of gold. After all gold is the "gold standard" when it comes to hard money. If we were to compare the tail emission in Monero to Bitcoin, the rough equivalent would be a tail emission in Bitcoin of approximately 3 XBT per block.

Edit 3: One can argue that the fee design in Monero is based upon an analysis that identifies a serious flaw in coins with a falling block reward such as Bitcoin, Litecoin, Ethereum Classic and Dash, since the solution of a "fee market" that replaces the block reward has not been found. The eventual need for such a "fee market" is implicit in these coins' design  If, in order for the coin to scale, the total fees per block have to be proportional to the block reward then the message becomes that such a "fee market" is in fact incompatible with scaling.
180  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: April 03, 2017, 07:49:24 PM
...

BTC lending rates dropped by half (<0.12%) so more margin longs?

One can borrow DASH at a lending rate of approximately one third of that for XBT. Cryptocurrency on margin is a an extremely high risk business and not for the faint of heart.
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