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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: August 25, 2017, 04:50:24 AM
It is bullshit to attack PoW coin with timewrap. Only some PoS coins can be attacked for purpose get more PoS rate for himself.
In PoW used cumulative difficulty, and win chain with 30 blocks with Diff 100, than 59 blocks with diff 50.
I agree that manipulating blocks is BS.  I agree this isn't a traditional time warp.  Yes, we're aware of how chains are scored.  As I keep saying - this is simply some idiot exploiting a hole that's been in POW coins since BTC hit the streets in order to take block rewards and manipulate the difficulty.  We've known about the possibility of this for years.  We also know that POW coins live or die on hash rate, that's why we're so happy to see more miners on the network.

Calling smart people idiots doesn't really help create a productive culture.

If you want to call whomever is doing it disruptive, then maybe that's fair.

How's it sound if you say "When we removed the 30 second minimum block time, we re-introduced a design problem in the original Satoshi bitcoin that is now being exploited to create alternating long-blocks and short-block periods on bitcoin cash. Our short-term fix has been to re-introduce a 1 second minimum block time, but it should probably be something more like 2-5 minutes minimum between blocks"

If any of you would like to discuss how to further upgrade Catcoin's original minimum block time prototype and fix the problems it created with mining, we might have a solution that would get used by a 'major' coin, and this could be quite profitable for all of us. I prefer open forums, and I'd be happy to discuss more on the unmoderated thread at https://bitcointalk.org/index.php?topic=1135534.40
2  Alternate cryptocurrencies / Speculation (Altcoins) / Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? on: September 22, 2016, 03:37:52 AM

Can you please explain how 'steem dollars' are a pegged currency at a 10% discount to the currency they are supposed to be pegged at? I don't get it.

BitUSD and NuBits have what I consider reasonable pegs. It remains to be seen if Nubits can keep their peg, but they are the only one I know of that had a failure and recovered.

https://steemit.com/steemit/@dantheman/boost-steem-value-by-backing-steem-dollar

Okay that's pretty damned interesting.

So make that two pegged currencies that have failed, one that has recovered, and one that seems to have a proposal that might result in a recovery. But what I currently understand of steem dollars is they are a rather 'soft' peg, depending both on witnesses and relative volatility levels.

Nubits seems to have the 'hardest' peg of the distributed systems, but seems to be brittle if stressed too much. BitUSD looks to be in the middle.
3  Alternate cryptocurrencies / Speculation (Altcoins) / Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? on: September 20, 2016, 05:05:29 AM
@hozer

Since it has been trade-able, SBD has performed much better as stable / US dollar pegged cryptocurrency than Nubits. It also has wayyy more volume and market depth. $135k in volume vs $5k in volume... It also pays decent interest which is cool

I am not sure if you are trolling, but SBD should at the very least be brought up in any reasonably objective conversation regarding market pegged assets.

From coinmarketcap, sept 20, 2016:
 Steem Dollars (SBD)
$0.904956 (5.09%)

bitUSD (BITUSD)
$0.982400 (-3.66%)

NuBits (USNBT)
$1.00 (0.57%)

Can you please explain how 'steem dollars' are a pegged currency at a 10% discount to the currency they are supposed to be pegged at? I don't get it.

BitUSD and NuBits have what I consider reasonable pegs. It remains to be seen if Nubits can keep their peg, but they are the only one I know of that had a failure and recovered.
4  Alternate cryptocurrencies / Speculation (Altcoins) / Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? on: August 03, 2016, 03:50:37 AM

The Nubits peg has been broken for at least 12 days now. It is currently at $0.258 instead of the $1.00 like it is supposed to be. It is unclear to me if they will ever regain the peg. Their main developer, the pseudonymous "Jordan Lee" has gone MIA. He was last seen on the Nubits forums 9 days ago. That doesn't exactly inspire confidence, but the Nubits/B&C Exchange community is scrambling to replace him and remedy the situation. We shall see if those efforts are successful... this thread breaks down the Nubits peg failure pretty well, and the ensuing drama that has unfolded: https://discuss.nubits.com/t/withdrawn-make-firing-and-replacing-incompetent-liquidity-providers-our-top-priority/4036

At least, maybe now the Nubits camp can concede that Bitshares' bitUSD is a better solution to the same problem. It is still going strong since before September of 2014, and it is currently valued at $1.01

Nubits is back to $0.88 on bittrex and $0.79 on poloniex, so it looks to me like a recovery is in progress.

You never know if something works until you test it to failure, so this makes for a vote of confidence for Nubits and it's community if the recovery continues.

That is cool. I am rooting for them to succeed. I think the idea could work, but it was poorly managed. They spent way too much cash on share buy backs. If they had all the cash they spent doing that on hand, the peg might of never been lost in the first place. Hindsight is of course 20/20.

There is also a new competitor- the Steem Dollar (SBD). http://www.steemdollar.com/

How is the steem dollar (SBD) even remotely relevant? If you want to compare the two, even with the recent (last 6 hours?) free-fall of Nubits prices it's still a pretty good peg to dollars compared to SBD. bitUSD, on the other hand seems to be holding and recovering from BTC price swings pretty well, even if it does have a larger spread that Nubits used to when it was working.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Implement Hayek Concurrent Currencies with Peershares on: July 26, 2016, 04:26:08 AM
BTC behaves as a volatile commodity already and NuBits/NuShares use it as base reserve.

So IMO an experiment with any other commodity (soybean, gold, oil, wheat, coal, cotton, etc) wouldn't differ that much.

Pegging to Fiat is better for creating an anti-inflation type of currency.

I might be wrong though...

If I have to make a decision about long-term trends on whether it's a good idea to do something like purchase real estate, it would be nice to have a commodity-basket indexed currency to figure out what to do. Fiat has cycles of inflation/deflation/hyperinflation, and if you are going to be in a multinational global business like growing commodities it would be more accurate to calculate your ROI for something (like buying new farm equipment) based on real global business fundamentals, and not whatever the current set of corrupt political machines has their hands on the fiat control clevers.
6  Alternate cryptocurrencies / Altcoin Discussion / Re: Implement Hayek Concurrent Currencies with Peershares on: July 26, 2016, 04:21:54 AM
LOL, everyone knows that most liquid Price stable Bitcoin is The STEEM DOLLAR

Number 3

www.coinmarketcap.com

Funny, as of July 25, the steem dollar price 'peg' (if there ever really was one) looks pretty busted to me.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Implement Hayek Concurrent Currencies with Peershares on: July 17, 2016, 01:06:39 PM
Quote
Tether is using this model but instead of issuing a cryptocurrency, it issues a token tethered to the amount deposited. As Bitreview points out though:

Tether's central reserve model reintroduces an inherent weaknesses that bitcoin meant to replace. And this is not simply an ideological exercise. Tether's reserve account represents a single point of failure which, whether by accident, incompetence, evil design or force majeure, could undermine their entire currency.

http://bitreview.com/altcoin/tether

Fascinating discussion of Hayek money you have here. I'm intentionally not posting anything on discuss.nubits.com because it seems like there's too much emotional and financial investment in NuShares/Nubits/BCexchange to have any sort of clear discussion. (Not that bitcointalk is much better, but at least it's got more diversity of investments).

It also seems that NuBits 'distributed' reserve model is only as good as the liquidity providers and the consensus of the shareholders. If there becomes a financial incentive to break the liquidity scheme, it gets broken, and it appears to have little 'cost' to the attacker(s). Or maybe what we are seeing is an intentional attempt to create a crisis of faith in NuShares. There are lots of other projects that stand to gain if Nu fails, so any attempt to try to place blame is only feeding the crisis of faith which further erodes the project.

I see a comment at https://discuss.nubits.com/t/poll-for-nushareholders-what-is-your-current-sentiment-on-nus-future-updated-version-july-2016/4317/3 saying:

Quote
Making a client and setting a protocol is the easy part of a fiat-pegged cryptocurrency. All the infrastructure and operation execution slog is the hard part. All these can be run without JL/@Phoenix. You could use the same Nu protocol with a new genesis block, and have another pegged currency, as long as you have the operations team. (You may also want a new brand. "Nubits" is too odd a name for mass adoption anyway ). It goes to show the point I try to make: the whole Nu thing is much larger than what JL may have done under the cover.

So could the Nubits (and maybe B&C exchange code?) be re-purposed as Hayek money that is 'pegged' to the value of commodities instead of fiat currency? For a month or so the chicago board of trade price of soybeans depended on whether the president of Brazil was going to get impeached. There are lots of farmers whom I suspect would be quite happy to provide lots of liquidity in the form of both local fiat and the commodity they produce if the system is even slightly more transparent than the rather opaque and centralized exchanges all the prices are indexed from right now.

I'd much rather see soybean basis priced as a percentage above or below the 'hayek' median average price of the pegged token.
8  Alternate cryptocurrencies / Speculation (Altcoins) / Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? on: July 13, 2016, 09:33:29 PM

The Nubits peg has been broken for at least 12 days now. It is currently at $0.258 instead of the $1.00 like it is supposed to be. It is unclear to me if they will ever regain the peg. Their main developer, the pseudonymous "Jordan Lee" has gone MIA. He was last seen on the Nubits forums 9 days ago. That doesn't exactly inspire confidence, but the Nubits/B&C Exchange community is scrambling to replace him and remedy the situation. We shall see if those efforts are successful... this thread breaks down the Nubits peg failure pretty well, and the ensuing drama that has unfolded: https://discuss.nubits.com/t/withdrawn-make-firing-and-replacing-incompetent-liquidity-providers-our-top-priority/4036

At least, maybe now the Nubits camp can concede that Bitshares' bitUSD is a better solution to the same problem. It is still going strong since before September of 2014, and it is currently valued at $1.01

Nubits is back to $0.88 on bittrex and $0.79 on poloniex, so it looks to me like a recovery is in progress.

You never know if something works until you test it to failure, so this makes for a vote of confidence for Nubits and it's community if the recovery continues.
9  Bitcoin / Project Development / Re: **MANDATORY UPGRADE REQUIRED** [ANN] B&C Exchange - All users must upgrade on: April 21, 2016, 02:57:42 PM
We are discussing best ways of speeding up the release of a MacOSX client. We appreciate everyone's patience.


Are there more issues that are not in this list:
https://bitbucket.org/JordanLeePeershares/bcexchange/issues?q=OS+x

Please update the bitbucket so I can track progress, and estimate how many hours it might take me to solve it.

The fastest way to speed up the MacOSX client release is allocate some cash (or NuBits) to pay a contractor to fix it. It does seem to me that worrying about the 90% network consensus without having a Mac client seems like the priorities are mis-allocated. If you are having trouble with multi-platform support maybe consider building for Linux only and distributing an embedded-linux based Virtualbox VM image so you only have one binary to worry about.

I'd be willing to look into either one of these options at no charge if we can work out a way to add an option to pay dividends in and allow trading with Grantcoin.
10  Bitcoin / Project Development / Re: [ANN] B&C Exchange - A decentralized exchange paying BTC dividends on: April 16, 2016, 06:19:35 PM
Several options are being proposed to speed up the upgrade of B&C Exchange. Architect Jordan Lee and others present their proposals here: https://discuss.nubits.com/t/proposal-to-speed-adoption-of-the-reputation-system/3785

We have many powerful options at our disposal and we are confident shareholders will select an option that allows the upgrade to proceed safely and efficiently.

To quote Jordan:
Quote
It has been 30 days since we released B&C Exchange 4.0, but only 47% of network minting power has upgraded. To effect the protocol change that will allow us to use the reputation system requires a 90% adoption rate. Given that the adoption rate is rising only very slowly, it is likely that it would take months to reach the switch threshold of 90%. It is important that we move forward with adoption of the reputation system more quickly so we can prepare for the full release of B&C Exchange.

To which I would respond with:

Slow the fuck down. No serious exchange unilaterally changes the whole system on 30 days notice. I'm not talking about bitcoin exchanges, which I don't (yet) consider completely serious. I'm talking about exchanges like chicago board of trade, the new york stock exchange, and the dalian exchange.

Okay, maybe the dalian exchange gets capital controls instituted on short notice, but then again I don't trade there.

These are your competitors. If it's been *60* days and still been no substantial growth in the protocol adoption, then maybe its time to consider some of these proposals. If it gets to *90* days then start talking about more drastic things like buying back all 'old' legacy shares and exchanging them for an entirely new blockchain that starts out at protocol version 5.

Relax a little. Contact all the original crowdsale buyers. If you can't contact them because all you have is an email and a bitcoin address, then maybe you might want to consider that running a business with shareholders without having multiple contact methods for your shareholders might be a bad idea.

I'd appreciate this if someone could repost this to the nubits.com form, or let me know if there's a reddit forum. While I do have a business critical need to be able to market commodities using distributed blockchain based exchanges, I don't have the time and the patience to track every single forum.

Or just estimate how much the price would have to go up to acquire enough shares to vote for the upgrade. It might be a good investment. But if you are going to throw out the contract you layed out for 90% consensus for upgrading, then slow down a little, and make sure you know what both the legal and ethical implications of such a change will be.
11  Bitcoin / Project Development / Re: [ANN] B&C Exchange - A decentralized exchange paying BTC dividends on: April 16, 2016, 04:54:18 AM
What options are there to distribute dividends with other currencies (say maybe Nubits or something like Grantcoin) while still retaining the network effects? Or will this require a fork, with all the associated dilution.
The dividend distribution is coded in the client, but a software fork to support additional currencies doesn't lead to dilution; it would merely be a new client release with a new feature.
As far as I understand the dividend addresses (public keys) get derived from the BKS private keys.
At a snapshot date, a distribution to the dividend addresses takes place.
Introducing additional/alternative dividend types isn't even a protocol update - you just need a client to distribute dividends and a client to generate the dividend addresses.

There also seems to be a risk of financial engineering a 'short' outside the BKS/BKC/etc system in which it becomes profitable to acquire, and then vote against the self-interest of the acquired crypto asset. It is either this, or a lack of patience that seems to be resulting in the long time it's taking to get enough clients upgraded (and voting for) the 4.0 protocol.

While this risk is theoretically exisiting, I have a hard time seeing a relation between it and the upgrading apathy.
BKC don't exist. Not a single one has been created so far,
There's currently only one place that trades BKS: CCEDK (BTC and US-NBT pair; almost no orders an no volume at the BTC pair, some orders and a little volume at the US-NBT pair).
There's no place with leveraged trading or put options - at least not to my knowledge.
So how can this be a real risk now?

I think it's a lack of responsibility that made people start their client to mint blocks without paying attention to the development.
The slow development over some months might have made them think that it's not important to pay attention.
That's wrong!
Without a protocol update to 4.0 (blocks minted by client versions 4.0.0 and 4.0.1), there's no reputed signer voting, no asset voting, etc.
Trading can't start without switching to 4.0!

People who continue to mint protocol 2.0 blocks (e.g. client release 3.0.2) essentially vote against activating exchange functions at B&C Exchange.
Whuaaaaat?


Most likely, it's just folks who set up the client and forgot about it, or maybe even some that actively sell what they are minting.

What might be the estimated economic cost (in dollars, or nubits) to buy sufficient BKS on the open market to put us over 90%, or is that effectively impossible?

It may also be worth some discussion on if there are attacks that could be conducted on the network to either block an upgrade, or force an upgrade.

At the end of the day though, the code and the concept may be perfectly fine but if you ended up with a subset of BKS shareholders who don't understand what it's really worth to upgrade, the choice of shareholders may be the cause for failure. Plenty of promising startups with good technology have failed because some shareholders don't get it. This problem is worse with more evenly distributed ownership structures like co-ops, and blockchain-based DACs are going to have the same social problems.

There are also plenty of people who might think a distributed blockchain-based DAC that supports trading is a substantial risk to their other investments, and buy shares for no other reason than to block or delay the deployment. All the existing centralized exchanges, for instance, have a financial incentive to block competitors.
12  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: April 16, 2016, 04:11:05 AM
I would love this "shitcoin", because

1) I love cats.
2) Shitcoins are perfect to get mining experience with shithardware.

Catcoins seems to be operational. There is this exchange in NZ. But support is really bad. Only people calling it shitcoin respond.

PS: Got 1.19 Catcoins from Poolmining! Yeah! My first mined coins! A 0.1 LTC payout from a mining pool would have taken one or two years for me.

Indeed. Low market cap & poorly supported coins are a great way to teach yourself financial cryptography, and get an idea of what some of the scams, hustles, and outright frauds that go on with pretty much anything involving money. The only difference between shitcoins, bitcoins, and dollars are the sophistication of the scams.
13  Bitcoin / Project Development / Re: [ANN] B&C Exchange - A decentralized exchange paying BTC dividends on: April 11, 2016, 05:02:03 AM
  • How are you planning to take into consideration and defend the B&C user interests Vs BKS shareholders & signers?
B&C user interests are of paramount interest for BKS holders. It's the users that consume BKC, which are required to pay fees and get destroyed by that. Destroying BKC means new BKC can get sold. That generates revenue (BTC), which BKS holders want to achieve (BTC will be distributed as dividends to BKS holders).
Signers are a kind of contract workers, hired by BKS holders.
If they don't behave, they'll get removed and replaced.


Very interesting.

What options are there to distribute dividends with other currencies (say maybe Nubits or something like Grantcoin) while still retaining the network effects? Or will this require a fork, with all the associated dilution.

There also seems to be a risk of financial engineering a 'short' outside the BKS/BKC/etc system in which it becomes profitable to acquire, and then vote against the self-interest of the acquired crypto asset. It is either this, or a lack of patience that seems to be resulting in the long time it's taking to get enough clients upgraded (and voting for) the 4.0 protocol.
14  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: January 20, 2016, 05:09:39 AM
Let's be straight, I don't understand what's the utility for this copy cat coin.
just one more meaningless coin among thousands of them.
Just buy Bitcoin.

Which of the three bitcoin forks do you think I should be buying?

bitcoin-keccak
bitcoin-classic
bitcoin-xt

Looks like Forktacular February is coming to Bitcoin too!
15  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: August 15, 2015, 07:12:48 PM
As much as it's fun to poke fun at the tightly controlled message on the censored thread, it doesn't really do a lot of good (unless maybe you feel better afterwards).

The problem is there's apparently some sort of market demand for exploitable coins, and that it must be profitable to create and control a message on a traded coin. It's probably a lot like penny stocks, where you have obvious 'pump and dump' stock promoters that (sometimes) make a lot of money by controlling a message about a stock with low or no obvious value. The promotion creates 'value' out of thin air, because people believe it, and then, just as soon as it came, it goes away.

So that being said, if we have a read of http://tradetheticker.blogspot.com/2014/02/question-how-do-you-find-and-track.html, then the question is how would you trade to take advantage of both the exploitable difficulty adjustment, and the tightly controlled messaging?
16  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: August 13, 2015, 10:23:41 PM
So what if we add a catcoin 'payment processor' to https://www.coinffeine.com/

Heck, we could have both 9.1.1 and 9.2.0 forks with active trading..
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: August 13, 2015, 10:13:09 PM
Cryptsy accepted crap 9.2.0 version  Angry

Regardless what version is used, it is more important that the coin not be monopolized by someone who prevents others from even voicing an opinion. I initially bought a bunch of them but have been slowly dumping since I saw what slimepuppy was doing.

If slimepuppy changes the thread to unmoderated, or if this unmoderated thread becomes the primary thread, I may start buying again. But until then this is a monopoly coin with a fake community managed by one person.

My suggestion is try and transfer everything you hold on cryptsy to a 9.2.0 wallet, and extract all the coins that still work on the 9.1.1 fork, and leave crytpsy holding the bag with all the coins mined on a botched fork with an exploitable difficulty adjustment.

There are more exchanges than cryptsy in the world, and all it really takes to make catcoin valuable is selling cat food for catcoins. If someone is willing to do that then it would be worth my time to release a new version that integrates the latest bitcoin-core code with a 3 minute minimum block time, and escalating reward after 15 minutes.
18  Alternate cryptocurrencies / Announcements (Altcoins) / Bandwidth usage on: August 04, 2015, 02:04:30 PM
This is an interesting read...

https://github.com/bitcoin/bitcoin/issues/273
19  Bitcoin / Hardware / Re: Modify S5 Antminer to watercooling on: August 02, 2015, 09:26:37 PM


These china based companies r pissin me off lately. For the money im payin i expect more from them but they r just gettin worse.



So are there any decent open-source PCB layouts for a BM1384 chip? What if we made a decent design and had it fabricated and built *in the US* from a manufacturer that actually does quality control?

I could see a market for a high-density water-cooled system (maybe including a heat pump) that can do something like hook up to a water heater
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Catcoin Uncensored on: August 02, 2015, 08:54:34 PM
cross-posted from the 'new new 9.2' catcoin thread:

It's been a fun day of node attacks, fake blocks, and amateurish DoS attempts.  Yet CAT blocks just keep flowing towards 46331.  Life is Good!


It's best, as a developer, to generally assume poor configuration or outdated clients rather than assume you are under attack.
This is *probably* the result of 9.1.1 nodes that got restarted and are trying to download the blockchain. I'm seeing the same problem, so it seems the best solution would be that both forks release new versions.

I can make the problem go away (for me) if I change the PCHmessage after some block (like maybe 46331), but you will still have problems with old 9.1.1 clients (that for all we know are still mining). If you can also change the 'new 9.1.1' catcoin thread to point to **new** binaries you'd also have a better chance at fixing this problem.
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