SolidCoin 1.01 Released

[kwukduck]

I don't think people are yelling 'scam'  because SC is a threat to BC.
It is because SC doesn't offer anything really new.
Main points for SC as far as i understand are FAST and SECURE transactions.
As i've said earlier, the security of a transaction in terms of a double spend doesn't have to do with the time it takes to create a block, it has to do with the amount of work over a certain period of time at a given difficulty. For bitcoin that's generally one hour of work, meaning avg of 6 blocks, for SC it's still an hour of work so; 20 blocks.
One plus for fast blocks is that the statistic variation for somebody to find a block is distributed a bit more nicely...
In the end, blockchain method won't work for any instant transactions, we need and have other solutions for that.

Other thing that simply annoys the shit out of me is the 'no early adopters with huge loads of SC' argument.
The early adopters of bitcoin have/had potential to become rich, many have sold their stash at insanely low prices. Everybody jumping in at this moment is still an early adopter.
People who farm SC for the first months will be early adopters too, having insane amounts, just because it's 1000 early adopters instead of 100 doesn't make any difference.
In my opinion the BC early adopters deserve it for establishing all that we have now, whereas SC early adopters are just pathetic speculators or jealous people who can't stand anyone else getting rich for being first.

I do like the GUI improvements, sucks that BC dev's don't work on that. Wallet encryption is nice too.
This version crashes for me on exit by the way on Win7.

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[smoothie]

Note: my personal opinion is that Solidcoins are a scam, but I understand that some users
may disagree with me on that, and this opinion has nothing to do with the present warning.

If you want to test SolidCoin, you are very likely to also own Bitcoins, and this makes you an ideal target for wallet theft.

It's actually rather easy for people to test whether Bitcoin's wallet.dat will be accessed. There are sandboxes, string searches, etc. You might as well say "never run another binary again because it may steal your wallet". The fact is the bitcoin binaries themselves can even steal your wallet, better not run the client at all.

Or "Leave your computer turned off - only when it's on can the wallet be stolen!!"

You are right that people should be hesitant to trust anything new, trust takes time to build. However your alarmist attitude sounds more like someone who is afraid of what SolidCoin represents to Bitcoin. Also with wallet encryption coming up in the bitcoin client (already in SolidCoin) I hope people become less concerned with their wallets being stolen as they will be useless to thieves and hackers.

Naw he's just warning people. Rightfully so.

[dub0matic]

for some reason on new client i could not recieve payment so went back to old client and was able to recieve payments again

[CoinHunter]

for some reason on new client i could not recieve payment so went back to old client and was able to recieve payments again

Windows? There's a small update coming out fixing a few UI issues, there's a crash on exit bug due to wxWidgets .  I've heard of no issues with receiving payments though, do you have a firewall by chance?

[dub0matic]

for some reason on new client i could not recieve payment so went back to old client and was able to recieve payments again

Windows? There's a small update coming out fixing a few UI issues, there's a crash on exit bug due to wxWidgets .  I've heard of no issues with receiving payments though, do you have a firewall by chance?

well im on win7 payments works on old client but not new client i did 2 different receive payments. 40 minutes apart. then switched back to old client and got the payments right away.

[CoinHunter]

for some reason on new client i could not recieve payment so went back to old client and was able to recieve payments again

Windows? There's a small update coming out fixing a few UI issues, there's a crash on exit bug due to wxWidgets .  I've heard of no issues with receiving payments though, do you have a firewall by chance?

well im on win7 payments works on old client but not new client i did 2 different receive payments. 40 minutes apart. then switched back to old client and got the payments right away.

Could just be because you had 0 connections for some reason (firewall blocking new EXE?)

Switching or restarting the client makes it reconnect to the IRC server to look for clients to connect to, so could have been the issue perhaps.

[Kartoff]

When i update i saw firewall popup asking me to allow new version... Maybe you didn't do that and it is your problem... Hope i helped

[dub0matic]

it doesnt really matter ill just stilck with old release too lazy

[kwukduck]

confirmations = blocks.

The block that contains your transaction gets 'burried' under new blocks, every new block on top is another confirmation.

The difficulty changes at first made me pretty enthusiastic about solidcoin, however, thinking it over it doesn't make much of a difference at all. (still some though)
If the value would crash and stay down this dramaticaly that most miners call quits i think Bitcoin failed as a whole. Most of the time the value will just recover and the few miners that quit will either stay out or jump back in again.

SC can easily be pump and dump all that is required is a few bitcoiners with a few bitcoins to spare.
- Keep buying SC for the first period of it's existence, price rises because of you pumping in bitcoins.
- People think this is the next big thing, they start buying in, price rises even more.
- Wait...
- Sell your shitload of SC at crazy prices.

I believe this is whats going on...

[JohnDoe]

So to sum it up for those who don't care to read it all. SolidCoin is just as secure as Bitcoin (and soon will be more secure due to development environment improvements, ie reduce chances of mybitcoin.com happening again), yet it's also faster and more stable.

What improvements will reduce the chances of an e-wallet defaulting on its users?

[FlipPro]

So to sum it up for those who don't care to read it all. SolidCoin is just as secure as Bitcoin (and soon will be more secure due to development environment improvements, ie reduce chances of mybitcoin.com happening again), yet it's also faster and more stable.

What improvements will reduce the chances of an e-wallet defaulting on its users?

I think he's talking encrypted wallets? Better UI?

[Detritus]

The linux downloads at http://solidcoin.info only contain links to the solidcoind daemon, the full client is not there.
The sources for the full client do not compile under linux...

Code:

ui.cpp: In member function ‘virtual void CMainFrame::OnIconize(wxIconizeEvent&)’:
ui.cpp:448:25: warning: ‘bool wxIconizeEvent::Iconized() const’ is deprecated (declared at /usr/local/include/wx-2.9/wx/event.h:2150)
ui.cpp:456:43: warning: ‘bool wxIconizeEvent::Iconized() const’ is deprecated (declared at /usr/local/include/wx-2.9/wx/event.h:2150)
ui.cpp: In member function ‘virtual bool CMyApp::OnInit()’:
ui.cpp:3121:29: error: expected type-specifier before ‘wxPNGHandler’
ui.cpp:3121:29: error: expected ‘)’ before ‘wxPNGHandler’
ui.cpp:3121:41: error: no matching function for call to ‘wxImage::AddHandler(int*)’
/usr/local/include/wx-2.9/wx/image.h:503:17: note: candidate is: static void wxImage::AddHandler(wxImageHandler*)
make: *** [obj/ui.o] Error 1
bigfoot@ubuntu:~/solidcoin-101/src$ 

So, effectively there is no solidcoin client for linux available.

Also, when you create tar's, zip's, ect, never have them extract their contents into the current path. It's common courtesy to have everything uncompress into a sub folder so you don't tar bomb someones home directory.

[JohnDoe]

I think he's talking encrypted wallets? Better UI?

Not sure. It has been possible to encrypt wallets since the beginning using third-party software like GPG and TrueCrypt so why would an in-house solution improve the situation? Also no idea how a better UI would improve security in any way.

[dree12]

I think SolidCoin already has built-in encrypted wallets. Maybe accessible deterministic wallets, automatic encrypted backups, modulization, and that kind of stuff.

[ohforf]

I think SolidCoin already has built-in encrypted wallets. Maybe accessible deterministic wallets, automatic encrypted backups, modulization, and that kind of stuff.

Correct, Solidcoin has a "encrypt Wallet" Option.
I'm using it and it works, but i also managed to steal my own Password using a simple Windows-API based Keylogger. 
Good old Avira didnt see anything fishy going on...

Any good Ideas how to make it more secure, without extra Hardware ? 

[dree12]

Kill all the keylogger processes? Turn off the keylogger? Really, a keylogger could steal your bank password as well, so turn those things off.

[kwukduck]

confirmations = blocks.

The block that contains your transaction gets 'burried' under new blocks, every new block on top is another confirmation.

Right but the piece of the equation I think is being missed is each tier:

Tier 1 - You get into a single block and get confirmed

Tier 2 - That block is handed off to 8 other nodes for 8 more confirmations

Tier 3 - Those 8 nodes pass off to 8 more nodes for 64 more confirmations

and so forth... (unless I have a system/math fail)

So while your client only see's 3 confirmed blocks, it can get up to 64 confirmations (probably less actually because now that I am thinking it would propogate to 7 additional nodes not 8 right? ...I is confused...)

Thats not how the blockchain works. Thats how the transaction 'order' gets processed.
It just spreads like a virus thru all the nodes, the one node that manages to put it into the next block sends out this block to the nodes it's connected to, adding to their blockchain, those nodes will forward the new block to their connected nodes aswell etc etc, again, like a virus.

However, this process has nothing to do with confirmations.

[dree12]

One bit of entropy is not much different from zero bits, unfortunately.

[m3ta]

The linux downloads at http://solidcoin.info only contain links to the solidcoind daemon, the full client is not there.
The sources for the full client do not compile under linux...

So, effectively there is no solidcoin client for linux available.

Also, when you create tar's, zip's, ect, never have them extract their contents into the current path. It's common courtesy to have everything uncompress into a sub folder so you don't tar bomb someones home directory.

+1
Detritus speaks the truth, the whole truth, and nothing but the truth (not that it would matter, hah).

[Beta-coiner1]

Looks like Solidcoin has surged by 20% in less than 15 minutes,lol.