NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS

[presstab]

I haven't kept track of Noble goings on lately, and just checked in now... see the coin is going POS... interesting, and probably a good idea.

My preference for the POS change would be to use an exchange or two for the swapover, rather than rely on wallets. I think a lot of people are lazy (and probably myself too), so would rather an exchange just handle all of that stuff for them.

Couple of questions:

Is that partner coin thing still going to happen? I recall the idea was for POS (and various flavor) coins to be made as partner coins to Noble, allowing swaps or given free to Noble holders. That still in the works?

Marketplace discount up to 30% still planned?

And as for Noble itself, I think the goal shouldn't necessarily be big returns, or to raise the price to some insane level, but simply look for stability. At whatever price it gets to (hopefully more than it currently is), all you need is for the coin to remain relatively stable. That way people can focus on the marketplace and use the coin as an actual currency. If a crypto has wild swings, nobody will want to spend it. Nobody wants to buy some item using crypto and find out 2 weeks from now they just spent 10x more than they should have. The more stable a coin is, the more likely people will use it at the marketplace.

It will simply be a hard fork rather than a new coin that is swapped in. At least if everything goes according to plan.

[fairglu]

My preference for the POS change would be to use an exchange or two for the swapover, rather than rely on wallets. I think a lot of people are lazy (and probably myself too), so would rather an exchange just handle all of that stuff for them.

When an exchange does the swap, doesn't it mean you have to send all your coins there, or risk losing all those you didn't send? be they in cold storage wallets, paper wallets, etc.

[NorrisK]

My preference for the POS change would be to use an exchange or two for the swapover, rather than rely on wallets. I think a lot of people are lazy (and probably myself too), so would rather an exchange just handle all of that stuff for them.

When an exchange does the swap, doesn't it mean you have to send all your coins there, or risk losing all those you didn't send? be they in cold storage wallets, paper wallets, etc.

yep, this requires a lot more time to give everybody the chance to send their coins to an exchange.

[fairglu]

yep, this requires a lot more time to give everybody the chance to send their coins to an exchange.

During that time, isn't the old blockchain very vulnerable?

Since all miners will have moved to the new chain, the old one will fall to low difficulty, which will make 51% attacks on it trivial, and thus an attacker can double-spends to the exchange for conversion to the new chain... so isn't the process quite risky?

[Hippie Tech]

yep, this requires a lot more time to give everybody the chance to send their coins to an exchange.

During that time, isn't the old blockchain very vulnerable?

Since all miners will have moved to the new chain, the old one will fall to low difficulty, which will make 51% attacks on it trivial, and thus an attacker can double-spends to the exchange for conversion to the new chain... so isn't the process quite risky?

It is very risky. COL went PoS after the fisrt halving..

WARNING ! The following contains scenes of people getting hard forked FUCKED. ---> https://bitcointalk.org/index.php?topic=279601.0

The mere fact that the switch is in the works will raise suspicions about this coin.

EDIT

COL takeover thread --> https://bitcointalk.org/index.php?topic=492392.0

[Hippie Tech]

My preference for the POS change would be to use an exchange or two for the swapover, rather than rely on wallets. I think a lot of people are lazy (and probably myself too), so would rather an exchange just handle all of that stuff for them.

When an exchange does the swap, doesn't it mean you have to send all your coins there, or risk losing all those you didn't send? be they in cold storage wallets, paper wallets, etc.

yep, this requires a lot more time to give everybody the chance to send their coins to an exchange.

How much do the exchanges make from everyone's PoS deposits ?

[presstab]

It sounds like a lot of people want a new chain rather than fork in the existing chain?

[pikuchato]

It sounds like a lot of people want a new chain rather than fork in the existing chain?

New chain like new coin?

No one wants that 

[presstab]

It sounds like a lot of people want a new chain rather than fork in the existing chain?

New chain like new coin?

No one wants that 

All this talk about using an exchange to switch coins is confusing me 

[voephilis]

let`s wait what rofo and the devs say.

[pikuchato]

It sounds like a lot of people want a new chain rather than fork in the existing chain?

New chain like new coin?

No one wants that  

All this talk about using an exchange to switch coins is confusing me  

I just got (explained in the IRC channel),
If a new chain is launched you will swap your old coins for new coins, like a fixed IPO thing.

don't panic whatever happens no one will take away your coins  


So I don't really care if new chain or not..


EDIT: It seems that a regular fork will take place, no new chain no swaps. be calm  

[presstab]

let`s wait what rofo and the devs say.

I have had discussion with rofo about building the framework for the PoS fork together and having a good round of testnetting to get any bugs out and make sure that the transition will happen smoothly. That is why I am confused when I hear people talking about using exchanges to switch out coins, I think it is wrong/old information. As long as everything goes to plan there should be no need for exchanges, proof of work coins will be eligible for stake without the end user having to do anything.

I have put about 5-6 hours into coding in the framework so far. Rofo will update everyone with details at his convenience.

[David Latapie]

It sounds like a lot of people want a new chain rather than fork in the existing chain?

New chain like new coin?

No one wants that  

All this talk about using an exchange to switch coins is confusing me  

No new chain, no exchange. Nothing like CAI/CAIx except as a last resort solution. But it should not be needed - Philosopher's Stone moved to full PoS less than one month ago for the very same reason as you and got no problem. And presstab knows their code.

Me and presstab are on IRC atm (but I am VERY busy, so don't place high hopes on me responding to you).

Edit :

<presstab> myeagleflies I am hoping to have the main framework cranked out this weekend
<presstab> then we will testnet it - and I invite all to participate
<myeagleflies> this sounds fast. fingers crossed
<myeagleflies> sure I will try to help with testing
<presstab> then once vetted we will set an amount of time before the actual fork occurs - 1 month is safe - but we can speed it up if we are in a hurry to secure the chain

[miKnutty]

Yeah for those of you who are seeking correct information #NobleCoin on webchat.freenode.net is the best place to reach myself and the rest of the team.

[poornamelessme]

All this talk about using an exchange to switch coins is confusing me  

I probably shouldn't have brought up the subject in my previous post. I was just stating a personal preference based on how past coins did swapovers and such. If it's just a hard fork and all goes to plan, it would unlikely be needed.

Seems I accidentally spread confusing info just by posting a preference. Now I see how easy it is for evil people to spread fud, which of course wasn't my intention here. Sorry for any confusion.

[cdg1941]

All this talk about using an exchange to switch coins is confusing me  

I probably shouldn't have brought up the subject in my previous post. I was just stating a personal preference based on how past coins did swapovers and such. If it's just a hard fork and all goes to plan, it would unlikely be needed.

Seems I accidentally spread confusing info just by posting a preference. Now I see how easy it is for evil people to spread fud, which of course wasn't my intention here. Sorry for any confusion.

everybody makes mistakes

[cryptonit]

network in a state that its save to transfer coins out of mintpal in my wallet?

now u go POS i had to buy into noble too 

[cdg1941]

has anyone else here heard about GHash having over 50% of bitcoin network hashrate?

[Rofo]

A clean swap over does not look like it would be necessary at this point. You would still need to download an updated wallet whether we did a hard fork with our current chain or a clean swap on an exchange to a new chain. Because we are working on forking, it means no coins would get lost in translation nor would we have to organise all the coins being moved on to an exchange. I'll have a very bold pronounced list ticking off every service/exchange we know has updated and we want to give ample warning/time to do an update before the fork takes place.

Worst case we have a bug or two with staking or an issue that causes our market to be frozen for a day or two while we resolve any issues. However this is why we're (well Presstab - he's working like a machine and has so far been very professional, also David from MINT has stepped in to help immensely) taking good time testnetting & working rather than rushing. Because of the time, testing, experience of the devs. and 'vetting' being done I doubt this would be the case, but you can never be 100% certain. At our market cap, a hiccup isn't going to kill us, and once it's sorted we have more room & potential to grow.

I've put the shout out to a couple of other well-known devs if they would like to 'vet' the code before final PoS kicks into play (and offering a small reward for their effort). It will of course be on github for weeks before the final transition. The exchanges will have weeks to vet the final update code themselves also before the PoS switch takes place (including guys from Cryptsy who visited us in IRC yesterday (wink)) - I've offered them a thank you reward if they would like to vet the code for us also.

Won't be rushed, won't be (huge) hype until it's all cleanly done and 100% confirmed, but we want it done as professionally as possible obviously ideally with no hiccups. Presstab has been very good, and made it clear payment for services is not necessary until everything is successful. He'd also like to stay on board afterwards in a more official manner, and at this point I'd love to have him.

[David Latapie]

Underpromise, overdeliver. That's how I like a job done :-)
Congratulations Rofo.

Also, if there is any NOBL holder in Rio de Janeiro, I will be there from June 20 to June 26. PM me if you wish to arrange an informal meeting.