[ANN][SBC] From Death Comes Life – The Rebirth of StableCoin - URGENT UPDATE

[Catswold]

"Last Active:    January 20, 2014, 12:29:32 PM"

I would say that Artos doesn't really care what any of us think or say--especially with all the threats and haranguing (and yes, I have been as guilty as any in my impatience and irritation).  

However, every time he does show up, he's made substantial progress.  I know it's hard to be patient--God do I know that--but he has discussed this before and all the impatience.

Remember what he posted back in December:

The mixing service will come when it's ready. There's a lot to tackle on not only on the developmental side, but also with testing and deployment. I also have to deal with promotion, management, and a multitude of other things associated with the coin in general. I encourage you to get involved in these things if you want to see the coin grow faster.

The only hard timeline is to have it ready before nightmares like CoinValidation become a reality.
Reply

I hope that he also has his eyes on the competition, but it's clear from the outset that he would not be hurried and that he was determined that when it is released, it will be as close to perfection as he can get it.

[1713890475]

1713890475

[cokirix]

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[coinscommander]

Hopefully soon we'll get an announcement like this. Removes the Single Point of Failure, plus multiple people working on a team would help speed up the development of the mixing service and other features (like PoP) before our anon/zerocoin competitors. Not only that, restored faith in the coin would it increase the value of SBC x5-10 overnight, and in turn a re-energized Stablecoin community would be able to fast-track marketing efforts so we can get SBC on more exchanges and accepted as currency in more places.

We know a lot of you have been wondering what happened to the lead dev. Yes he's alive, and yes, so is KittehCoin. However, some changes have been made: due to several factors, the least of which being a greatly increased workload and potentially increased public visibility of the lead dev, the KittehCoin team has been expanded and restructured. This is actually GREAT NEWS for KittehCoin, as it means that several bitcointalk.org members will be working on the project continuously, rather than just one individual.

[shinep]

TIPS claims to have succeeded in implementing the mixing service.
https://bitcointalk.org/index.php?topic=391192.1140
If this is true, SBC is in for a tough ride ahead.

[mudshark79]

TIPS claims to have succeeded in implementing the mixing service.
https://bitcointalk.org/index.php?topic=391192.1140
If this is true, SBC is in for a tough ride ahead.

This ride won't be too long, not so much height to lose 

[Catswold]

TIPS claims to have succeeded in implementing the mixing service.
https://bitcointalk.org/index.php?topic=391192.1140
If this is true, SBC is in for a tough ride ahead.

This alleged mixing service lacks the anonymity algorithm that SBC has.  Under artos' system, there is an 80 character random chain added to each transaction to obscure the address . . . here's the description:

When sending to this address, it will be designated as a special type of transaction. All of this will be done through a dedicated mixing tab in the client. These transactions will have an additional data field that stores an obscured version of the address you want the mixed funds to be sent to. The address will be joined with 80 characters of random data, for privacy purposes. For example:

r7ru5JaNMugN2GK4mrmVmLpSgTXXCWzeL4dGzznV6YWhxq4K2aM7Tcz6VgUNxaLJ7Jzu9fZYmHZmRE4 TsajaWXsFiQNbH8bzQygYS1UeXqgTRJZQA7

The resulting string is then encrypted, using the public key of the master node. When the master node receives such a transaction, it decrypts it using it's private key. The node then strips the first 80 characters, leaving it with the address (the bold part) to send the mixed funds back to.

When sufficient conditions have been met, the master node will create a new set of transactions to send out the now mixed funds. These transactions will be signed, encrypted, and then sent over to another node who's job is to decrypt and broadcast it. All nodes involved will be running on the TOR network. By doing it this way, we are able to obscure where the master node it.

We still will be able to offer a better, superior product, but artos had better hustle his bustle on finishing.

Also, this is only a beta announcement.  They still are about where we are, except they are making the beta public.

Let's not surrender until the battle is engaged, at least.

[oncebitcoinedtwiceshy]

We still will be able to offer a better, superior product, but artos had better hustle his bustle on finishing.

Also, this is only a beta announcement.  They still are about where we are, except they are making the beta public.

Let's not surrender until the battle is engaged, at least.

+1 for the sentiment. SBC going to need some extensive and sustained PR to accompany any SBC beta activity and launch.

Good luck to the TIPS guys though, I'm sure the dev invisibel had posted in the SBC thread before. Nice to see someone doing coin development that isn't just coingen!

[GigaCoin]

Yes indeed, looks like TIPS beat us to coin mixing service

[turtoro]

Someone explain something to me.

On a technical basis, how is it that invisibel implemented a mixing service in such a short time (he says 24-48 hours) while Artos and others (zerocoin) have been at it for months. It surely cant be that easy. Is fedora's a "watered down" version that will not be as secure? Is this sales fluff or legit.

[Catswold]

Everybody take a deep breath.  They are now delaying implementation:

Alright guys, we've chosen to delay the public release of the mixing feature until we've added support for multi-mixing nodes, which may take a few days (but then again I told people that coin mixing would take a week or two and I had it done in less than 12 hours Tongue)
We'll probably be dropping the difficulty fix update before that though since it desperately needs fixing. Since it'll be a hard fork update make sure to watch this thread and keep up to date!

https://bitcointalk.org/index.php?topic=391192.msg4899405#msg4899405

They are also still working on fixing their difficulty algorithm.

I'm not saying don't hedge your bets (I've done some TIPS buying today), but as I said before, let's not throw in the towel before the first bell rings.

[Now you've done it, you've got me mixing metaphors]

[oncebitcoinedtwiceshy]

Someone explain something to me.

On a technical basis, how is it that invisibel implemented a mixing service in such a short time (he says 24-48 hours) while Artos and others (zerocoin) have been at it for months. It surely cant be that easy. Is fedora's a "watered down" version that will not be as secure? Is this sales fluff or legit.

I think the fairest thing to say is that someone will need to review the TIPS source that will be put on github.  invisibel has already said there were some differences in implementation to that which Artos proposed due to client side requirements and some other parts he hasn't implemented yet. Looks like he is going to add multi-mixing into the now delayed release, check out the TIPS thread.

Zerocoin is a different approach again IIRC.

Hard to know the level of security testing applied to the TIPS beta so far and similar production-quality level work. It is not fair to comment as I don't have visibility of it, not because I think it falls short, just don't know the answer. Any dev will know that the hardening of an implementation like this is as much of a challenge as the functionality. Probably best to go join in on their beta IRC if you want to know more.

As Catswold says in his metaphors, the show ain't over until the fat lady throws in the towel  

[Ximp]

The fat lady being somebody who drops in and says two sentences then leaves and doesn't come back until there is almost rioting in the streets.

[invisibel]

TIPS claims to have succeeded in implementing the mixing service.
https://bitcointalk.org/index.php?topic=391192.1140
If this is true, SBC is in for a tough ride ahead.

This alleged mixing service lacks the anonymity algorithm that SBC has.  Under artos' system, there is an 80 character random chain added to each transaction to obscure the address . . . here's the description:

We still will be able to offer a better, superior product, but artos had better hustle his bustle on finishing.

Also, this is only a beta announcement.  They still are about where we are, except they are making the beta public.

Let's not surrender until the battle is engaged, at least.

FedoraCoin actually adds a 200+ byte (or character) random padding to the mixed transaction, which is then encrypted.
I didn't even intend to add it, but the RSA encryption we use forces us to use 256 bytes minimum to store transaction data inside, so we may as well make use of it

Sorry if it seems like I'm advertising, just spreading facts, I'm also a StableCoin supporter too (I helped to write some stuff on the wikipedia article before it got deleted, and also own a nice share of StableCoins) and I'm pretty interested in how artos plans to add his mixing feature.

EDIT: If artos needs any advice about adding it feel free to get in touch, I'd like to see StableCoin succeed also. I noticed a few issues with the original way he posted about how he was implementing it while I was adding the mixing feature to FedoraCoin, nothing major though, the way he plans for it still seems pretty tight. Just some small things that can turn into a real headache.

[Ximp]

FedoraCoin actually adds a 200+ byte (or character) random padding to the mixed transaction, which is then encrypted.
I didn't even intend to add it, but the RSA encryption we use forces us to use 256 bytes minimum to store transaction data inside, so we may as well make use of it

Sorry if it seems like I'm advertising, just spreading facts, I'm also a StableCoin supporter too (I helped to write some stuff on the wikipedia article before it got deleted) and I'm quite interested in how artos plans to add his mixing feature.

No problem. Would you ever consider switching over to work on StableCoin? It does have better name

[oncebitcoinedtwiceshy]

FedoraCoin actually adds a 200+ byte (or character) random padding to the mixed transaction, which is then encrypted.
I didn't even intend to add it, but the RSA encryption we use forces us to use 256 bytes minimum to store transaction data inside, so we may as well make use of it

Sorry if it seems like I'm advertising, just spreading facts, I'm also a StableCoin supporter too (I helped to write some stuff on the wikipedia article before it got deleted) and I'm quite interested in how artos plans to add his mixing feature.

Thanks invisibel for the extra information. Don't worry nobody is adverse to you posting on here, at least I'm not! It's good that you've done something positive to move the features forward and found what is workable from your viewpoint. As I posted over on your thread, good luck with it, nice to see development happening.

[turtoro]

FedoraCoin actually adds a 200+ byte (or character) random padding to the mixed transaction, which is then encrypted.
I didn't even intend to add it, but the RSA encryption we use forces us to use 256 bytes minimum to store transaction data inside, so we may as well make use of it

Sorry if it seems like I'm advertising, just spreading facts, I'm also a StableCoin supporter too (I helped to write some stuff on the wikipedia article before it got deleted) and I'm quite interested in how artos plans to add his mixing feature.

Thanks invisibel for the extra information. Don't worry nobody is adverse to you posting on here, at least I'm not! It's good that you've done something positive to move the features forward and found what is workable from your viewpoint. As I posted over on your thread, good luck with it, nice to see development happening.

+1

invisibel seems like a solid guy. Any development like this is good for the crypto world

[invisibel]

No problem. Would you ever consider working on StableCoin? It does have better name

I was actually thinking of asking artos if he would accept me into the dev team before I started on FedoraCoin, but from what I'd heard at the time it sounded like he wanted to work on it alone. If this has changed he can always feel free to get in touch with me

Thanks invisibel for the extra information. Don't worry nobody is adverse to you posting on here, at least I'm not! It's good that you've done something positive to move the features forward and found what is workable from your viewpoint. As I posted over on your thread, good luck with it, nice to see development happening.

That's great, I was worried that people here would start to hate me/FedoraCoin because we'd managed to implement it first. As I said above if artos wants any help with it he can always get in touch with me, I'd like to see StableCoin succeed too

[oncebitcoinedtwiceshy]

That's great, I was worried that people here would start to hate me/FedoraCoin because we'd managed to implement it first. As I said above if artos wants any help with it he can always get in touch with me, I'd like to see StableCoin succeed too

OK, I'll be straight with you the only thing that really annoys me is that my auto spell-checker keeps trying to change your username to 'invisible' every time I type it in these posts.  Please change your name and all is forgiven 

[Ximp]

That's great, I was worried that people here would start to hate me/FedoraCoin because we'd managed to implement it first. As I said above if artos wants any help with it he can always get in touch with me, I'd like to see StableCoin succeed too

OK, I'll be straight with you the only thing that really annoys me is that my auto spell-checker keeps trying to change your username to 'invisible' every time I type it in these posts.  Please change your name and all is forgiven 

Yeah, I'm really starting to hate your name. On a more serious note, Artos said he would be fine with people developing for SBC without him.

[grizmoblust]

OP will never deliver his promises.

deadcoin