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Author Topic: Have you looked at PoSP, the original staking algorithm of CBX?  (Read 1307 times)
kiklo
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September 02, 2016, 10:44:47 PM
Last edit: September 02, 2016, 11:13:35 PM by kiklo
 #21

Any PoS or PoSP coin that allows coins to stake less than 5 days will favor the whales, since they can stake pretty much all of the time and keep smaller blocks from staking.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.

This is not accurate. Lets take a 'whale' with 20k CBX as an example. Yes, they will get the first PoSP block when they stake but then an hour has to go by until their CBX is eligible to stake again (that is 60 blocks for the non-whales). It is not quite the monopoly possibility that you suggest.

Hmm,
LOL  Cheesy, you are making a joke right.

Observe # 6 on your Rich List with ~25k CBX
https://chainz.cryptoid.info/cbx/address.dws?123346.htm

He is staking more than once per hour, and only 1 hour later he can stake again.
And that is only if that is his only address, if he has a few other high addresses, he is taking more of those limited # of chances to stake crowding out the little guy.
What I said was exactly accurate.


Transactions
Hash                         Block     Date/Time                          Amount      Balance
2784123d32ddedef...   1616552   2016-09-02 18:30:45   + 0.040465 CBX   25,201.272414 CBX
5bf4c118a61091cd...   1616551   2016-09-02 18:30:45   + 0.040465 CBX   25,201.231949 CBX
ba69c9365162ac9e...   1616545   2016-09-02 18:19:58   + 0.040465 CBX   25,201.191484 CBX
ad156a361115f322...   1616541   2016-09-02 18:15:08   + 0.040465 CBX   25,201.151019 CBX
c8f5b154f8551ef9...   1616540   2016-09-02 18:14:50   + 0.040465 CBX   25,201.110554 CBX
ac5efb973de3fd97...   1616516   2016-09-02 17:44:44   + 0.040465 CBX   25,201.070089 CBX
30f320729398133d...   1616502   2016-09-02 17:28:58   + 0.040465 CBX   25,201.029624 CBX
609ce88482cd5d2b...   1616499   2016-09-02 17:27:15   + 0.040465 CBX   25,200.989159 CBX
193baf2a64f30cb3...   1616493   2016-09-02 17:14:39   + 0.040465 CBX   25,200.948694 CBX
12aea0b0f6af1e69...   1616489   2016-09-02 17:09:36   + 0.040465 CBX   25,200.908229 CBX
008062b9e4a1d5c4...   1616488   2016-09-02 17:09:23   + 0.040465 CBX   25,200.867764 CBX
1b9719d9f3b3b18b...   1616484   2016-09-02 17:05:48   + 0.040465 CBX   25,200.827299 CBX
5f552f5bffe1f4a5...   1616478   2016-09-02 16:59:11   + 0.040465 CBX   25,200.786834 CBX
7fe4eb580ccb8a25...   1616454   2016-09-02 16:31:32   + 0.040465 CBX   25,200.746369 CBX
ef06c69d64d7acee...   1616444   2016-09-02 16:17:00   + 0.040465 CBX   25,200.705904 CBX
ee26bfc28f64bc9e...   1616441   2016-09-02 16:15:46   + 0.040465 CBX   25,200.665439 CBX
d4304e7bd054815b...   1616436   2016-09-02 16:09:24   + 0.040465 CBX   25,200.624974 CBX

 Cool
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kiklo
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September 02, 2016, 10:50:28 PM
Last edit: September 02, 2016, 11:04:17 PM by kiklo
 #22


FYI:
DDOS was just 1 vulnerability, another would be if a small group with majority of coins just set their firewalls to block all IPs except the ones in the group.
Plus not every user can switch IPs at will. (Depends on their Service Provider.)

DDoS is a very nasty and serious offence. People go to jail for that - and if I was victim of one for sure I would report it to the authorities; US and other countries governments take these things seriously!

If someone is going to DDoS any PoS coin - it better yield much more than 50$ - 5000$ or it's not worth risking going to jail for such small amounts.

As many sites that get DDOS, and their is no prosecution , I sincerely doubt the people doing it are concerned in the least with a threat of law enforcement, if they were the Cloudflare service would not even exist.

So you still have not answered my previous question?



Not worth DDoSing right now, and when it will be worth it (CBX value is going up), appropriate measures will be taken.

What measures will be taken?
Because this is a big issue for any PoSP implementation, and certain to be executed if the coin has any success.



 Cool

FYI:
I am not trying to focus on a CBX flaw, to me it is a design flaw of PoSP, so if you do have any measures to stop this from happening,
post it as all PoSP coin implementations would be affected not just CBX.
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September 03, 2016, 04:53:56 AM
 #23

Any PoS or PoSP coin that allows coins to stake less than 5 days will favor the whales, since they can stake pretty much all of the time and keep smaller blocks from staking.
Coins that only allow you to stake every 15 or more days, decrease the Whales ability to use Compound Interest to their advantage which gives people with smaller amounts a chance to stake. So the shorter the time frame the more Compound interest you can earn and the Larger the Whales become.

This is not accurate. Lets take a 'whale' with 20k CBX as an example. Yes, they will get the first PoSP block when they stake but then an hour has to go by until their CBX is eligible to stake again (that is 60 blocks for the non-whales). It is not quite the monopoly possibility that you suggest.

Hmm,
LOL  Cheesy, you are making a joke right.

Observe # 6 on your Rich List with ~25k CBX
https://chainz.cryptoid.info/cbx/address.dws?123346.htm

He is staking more than once per hour, and only 1 hour later he can stake again.
And that is only if that is his only address, if he has a few other high addresses, he is taking more of those limited # of chances to stake crowding out the little guy.
What I said was exactly accurate.


Transactions
Hash                         Block     Date/Time                          Amount      Balance

ef06c69d64d7acee...   1616444   2016-09-02 16:17:00   + 0.040465 CBX   25,200.705904 CBX
ee26bfc28f64bc9e...   1616441   2016-09-02 16:15:46   + 0.040465 CBX   25,200.665439 CBX
d4304e7bd054815b...   1616436   2016-09-02 16:09:24   + 0.040465 CBX   25,200.624974 CBX

 Cool

It goes by input size Kikloo, not by address size. Every address can have many inputs.
kiklo
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September 03, 2016, 05:23:16 AM
 #24


It goes by input size Kiklo, not by address size. Every address can have many inputs.

The point made was that he staked more than once per hour, multiplied thru out the day,
he will block those with less per block from staking, while his amount will continue to grow.

There is nothing wrong with CBX being for Elites or Whales, but the pretense that it is not is irritating.   Tongue
You still have not answered what measures will be taken once the ddos starts.

 Cool

FYI:
If you can't comprehend what I am saying you should study the effects of compound interest.
elambert
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September 05, 2016, 08:16:06 PM
 #25


It goes by input size Kiklo, not by address size. Every address can have many inputs.

The point made was that he staked more than once per hour, multiplied thru out the day,
he will block those with less per block from staking, while his amount will continue to grow.

There is nothing wrong with CBX being for Elites or Whales, but the pretense that it is not is irritating.   Tongue
You still have not answered what measures will be taken once the ddos starts.

 Cool

FYI:
If you can't comprehend what I am saying you should study the effects of compound interest.


Are you making a joke or just not able to understand how interest works? A interest percentage will be larger in accordance to the size of ones capital. To make it easy: 10% of 100 is 10; 10% of 1000 is 100.

With regard to DDoS, are you trying to say large PoW pools can't be DDos'ed to allow other miners an advantage?

Please explain what algo you are representing as superior and WHY...
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September 05, 2016, 10:04:30 PM
 #26

As far as understanding interest, I can ask the same of you.
What I am saying is your CBX whales can monopolize the opportunity to stake and earn that %, and then in the next hour, stake again with the earlier amount & stake included in the next block, which this process will continue increasing their ownership at a faster degree.
Your Whales, decrease the # of times the nonwhales can stake, so even thru they eventually stake, it is less because their compounding effect was blocked the majority of the time.
If that is above your comprehension skill take a math class on the difference between compound interest & simple interest.
http://www.investopedia.com/ask/answers/042315/what-difference-between-compounding-interest-and-simple-interest.asp

Your guy said there were measures that would be implemented, to protect PoSP ,
I just want to hear if it is valid or just propaganda.

As far as DDOS, anyone can be attacked , but PoSP gives a Direct Financial Incentive to do so.
With Normal PoS, a DDOS attack is irrelevant, because you will make up the difference when you stake so there is no direct financial incentive because you receive the stake in proportion to your coins, not in proportion to the amount of available coins staking like PoSP.

So if you are want to know which is superior algo, then standard PoS would be superior to PoSP.

 Cool
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September 06, 2016, 03:14:47 PM
 #27

As far as understanding interest, I can ask the same of you.
What I am saying is your CBX whales can monopolize the opportunity to stake and earn that %, and then in the next hour, stake again with the earlier amount & stake included in the next block, which this process will continue increasing their ownership at a faster degree.
Your Whales, decrease the # of times the nonwhales can stake, so even thru they eventually stake, it is less because their compounding effect was blocked the majority of the time.
If that is above your comprehension skill take a math class on the difference between compound interest & simple interest.
http://www.investopedia.com/ask/answers/042315/what-difference-between-compounding-interest-and-simple-interest.asp

Your guy said there were measures that would be implemented, to protect PoSP ,
I just want to hear if it is valid or just propaganda.

As far as DDOS, anyone can be attacked , but PoSP gives a Direct Financial Incentive to do so.
With Normal PoS, a DDOS attack is irrelevant, because you will make up the difference when you stake so there is no direct financial incentive because you receive the stake in proportion to your coins, not in proportion to the amount of available coins staking like PoSP.

So if you are want to know which is superior algo, then standard PoS would be superior to PoSP.

 Cool

Now your speaking in circles and ignoring what I am telling you. I am not going to continue repeating myself. As far as standard PoS is concerned, you are entitled to your own opinion but the facts are not in your favor. I have addressed the problems with standard PoS in the PoSP white paper, each of which is addressed and improved upon with PoSP's design. Feel free to read it and learn.
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September 06, 2016, 09:21:44 PM
 #28

We can just agree to disagree.
Time will provide the final decision on who was correct.   Smiley


 Cool

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March 31, 2017, 07:27:25 AM
 #29

Nice, a discussion about PoSP!

PoSP was adopted by Pesobit two months ago and it's going great.

https://c-cex.com/?p=psb-btc
https://bitcointalk.org/index.php?topic=1581240.0

I agree with VonSpass it's a very economically sane algorithm


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