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Author Topic: Save Namecoin from Double Spend attack! Now 20% profit pool up!  (Read 4538 times)
MaGNeT
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September 12, 2011, 05:32:49 PM
 #1

I saw this earlier today:

Namecoin- 29GHS Network Speed, I'm Going to 51% Attack It for a Test

DoubleC already shut down his Namecoin exchange until problems are over:

https://exchange.bitparking.com/main

Quote
Due to threatened double-spending attacks I have temporarily closed namecoin deposits and withdrawals.

Bitparking Namecoin Exchange
The Bitparking Namecoin Exchange provides a means for you to trade Bitcoins (BTC) for Namecoins (NMC) or Namecoins for Bitcoins. The Exchange does not take part in the trades, you are trading with other users of this service. Prices for exchanges are based on matching the current list of buy and sell orders. The exchange takes a fee of 0.2% from the namecoin and bitcoin side of the trade. Historical charts are available at NMC Watch.

Due to threatened double-spending attacks I have temporarily closed namecoin deposits and withdrawals.

To prevent this from happening, please help us by mining Namecoins now!

I'm mining them at Coinotron already (3Ghash/s), but every Namecoin pool (or solo) should do the job!

And don't start with: "I'm not mining them at a loss"...
Every coin is at a loss atm... And hey, if they gain in price someday, you might even make a little profit...

Edit: If you have another solution, give it a try!
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MaGNeT
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September 12, 2011, 05:52:24 PM
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Update:

The Plan

A 51% attack is very elementary to what we plan to do. A team of our coders is convinced we can stop the block chain period and control it's direction forward or backwards via a reset. We've actually done it on a small test net.

Block Chain exploits have evolved quantum fold in the past 72 hours largely due to ArtForz Geist Geld exploit he posted, we took it to a new level as evidenced by the 20,000 blocks generated in 73 minutes which is theoretically impossible, but we did it.

Here's the agenda.

You have until block 19100 to withdraw, trade or do whatever you like. We will not launch until then.

At 19101 we are going to stop the block chain and do a reset to block 10,000. Using ArtForz modified exploit we are going to generate 5000 blocks in a matter of minutes, confirm them and commence experimenting. We will effectively split the NMC block chain and invalidate the old one past block 10000.

Gavin's patch will not work for the exchanges.

If you want to stop us all you have to do is increase the NMC Network Hash Rate to more than 500 GH /s before 19100. Bitcoin is 100% protected due to it's massive hash rate.

We notified the exchanges to prevent monetary loses by these guys. The purpose of this is knowledge and not to steal.

Goals
1) Developing protection for Bitcoin against exploits
2) Developing a lethal alt chain killer.
3) Making developers aware that when the "bad guys" make you aware of an exploit, FIX IT!

We will highly document this and make it public.

This will be my last post until after the attack begins.


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September 12, 2011, 05:55:54 PM
 #3

Watching the network Wink
AngelusWebDesign
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September 12, 2011, 07:38:07 PM
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Good for them!

I hope they develop a "lethal alt chain killer" -- that'll show those wannabes who take the Bitcoin source, give it a new name, recompile it and start their own blockchain.

Any Bitcoin spinoff that is worthy of attention will have enough compelling reasons for its existence, and enough support, that it won't have to worry.

In fact, I'd go so far as to say that SUCH A CHAIN WILL NOT COME OUT until after Bitcoin is dying or dead. You can't have two viable chains at this point in history. There are simply not enough miners and ESPECIALLY not enough end-users.

Matthew
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September 12, 2011, 07:47:39 PM
 #5

namecoin is stupid

bitcoin is safe

end of story

It's an opinion.
MaGNeT
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September 12, 2011, 07:48:02 PM
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Good for them!

I hope they develop a "lethal alt chain killer" -- that'll show those wannabes who take the Bitcoin source, give it a new name, recompile it and start their own blockchain.

Any Bitcoin spinoff that is worthy of attention will have enough compelling reasons for its existence, and enough support, that it won't have to worry.

In fact, I'd go so far as to say that SUCH A CHAIN WILL NOT COME OUT until after Bitcoin is dying or dead. You can't have two viable chains at this point in history. There are simply not enough miners and ESPECIALLY not enough end-users.

Matthew


It's open source.
casascius
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September 12, 2011, 07:53:05 PM
 #7

The real thing that would save Namecoin would be to move to merged mining NOW and get the cooperation of at least one or more pools.

I would suggest the following from what little I know:

1. Develop a patch for bitcoind that allows a "putwork" RPC call.  This way, the pool operators (who have probably already customized the crap out of their bitcoind and can't afford to replace it with something else) won't have a difficult time integrating the merged mining.  The purpose of putwork is to set the merkle tree root that is going to appear in bitcoin's coinbase transaction for the benefit of namecoind.  It would take just a single 32-byte integer.

2. Write some little stub script that continually does a getwork from namecoind and does the putwork into bitcoind.

3. Talk a pool operator into integrating the putwork patch into their bitcoind.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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September 12, 2011, 07:53:15 PM
 #8

namecoin is stupid

bitcoin is safe

end of story

You're stupid.
Namecoin fulfills a completely different purpose to Bitcoin.

If my post helped, I'll happily accept a few bitmills!   15rGg6A1JFZV3b7TTbtpAaiYGdUD1e1oAm
MaGNeT
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September 12, 2011, 08:09:00 PM
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I think mining power is increasing! Keep up the good work, guys!!!
Xenland
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September 12, 2011, 08:11:36 PM
 #10

I see that this effort is to test Bitcoin network on a name coin scale. This is very good to check the integrity of bit-coin I will in fact turn off my namecoin miners until after you commit this attack.
MaGNeT
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September 12, 2011, 08:20:20 PM
 #11

I see that this effort is to test Bitcoin network on a name coin scale. This is very good to check the integrity of bit-coin I will in fact turn off my namecoin miners until after you commit this attack.

Feel free to do that Smiley

Enough miners to take your place.
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September 12, 2011, 10:01:25 PM
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Good for them!

I hope they develop a "lethal alt chain killer" -- that'll show those wannabes who take the Bitcoin source, give it a new name, recompile it and start their own blockchain.

Any Bitcoin spinoff that is worthy of attention will have enough compelling reasons for its existence, and enough support, that it won't have to worry.

In fact, I'd go so far as to say that SUCH A CHAIN WILL NOT COME OUT until after Bitcoin is dying or dead. You can't have two viable chains at this point in history. There are simply not enough miners and ESPECIALLY not enough end-users.

Matthew


ya i sorta agree with you for once surprisingly...I0/Ix/SC has been a blight on bitcoin

but namecoin is a good project, hopefully once this is over it will survive
Xenland
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September 12, 2011, 10:05:26 PM
 #13

I see that this effort is to test Bitcoin network on a name coin scale. This is very good to check the integrity of bit-coin I will in fact turn off my namecoin miners until after you commit this attack.

Feel free to do that Smiley

Enough miners to take your place.

LOL now im confused... okay so I guess I'll mine namecoins then if it helps you test your attack?
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September 13, 2011, 01:23:22 AM
 #14

Come Join us at Davinci's NMC Pool.

He's currently working on implementing a BTC for NMC feature

You mine NMC but can choose to get paid (handsomely I might add) in BTC (which he will pay out of his own pocket, in exchange for your mined Namecoins)

http://www.nmcbit.com for more info

Brat
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September 13, 2011, 03:21:12 AM
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Please let namecoin die with dignity.

"From a small seed a mighty trunk may grow." -Aeschylus
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September 13, 2011, 03:25:20 AM
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Please let namecoin die with dignity.

not needed, problem is solved :
https://bitcointalk.org/index.php?topic=43719.msg522366#msg522366

If you don't own the private keys, you don't own the coins.
MaGNeT
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September 13, 2011, 06:06:55 AM
 #17

I see that this effort is to test Bitcoin network on a name coin scale. This is very good to check the integrity of bit-coin I will in fact turn off my namecoin miners until after you commit this attack.

Feel free to do that Smiley

Enough miners to take your place.

LOL now im confused... okay so I guess I'll mine namecoins then if it helps you test your attack?

My attack? Did you read?
MaGNeT
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September 13, 2011, 06:11:30 AM
 #18

This is great news:

It's ready!

I pay just under 20% more than what deepbit will pay help save Namecoins!

Just click PPS check box beside your worker and BOOM you are getting paid btc I keep the NMC however you can get proportional namecoins if you like.

Your shares are updated once a NMC block is found so the more blocks we find the faster you BTC end up in your wallet.

Merged mining, here I come Smiley
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September 13, 2011, 06:35:00 AM
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This is great news:

It's ready!

I pay just under 20% more than what deepbit will pay help save Namecoins!

Just click PPS check box beside your worker and BOOM you are getting paid btc I keep the NMC however you can get proportional namecoins if you like.

Your shares are updated once a NMC block is found so the more blocks we find the faster you BTC end up in your wallet.

Merged mining, here I come Smiley

Where does it say that his pool is using merged mining currently?
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September 13, 2011, 06:51:49 AM
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This is great news:

It's ready!

I pay just under 20% more than what deepbit will pay help save Namecoins!

Just click PPS check box beside your worker and BOOM you are getting paid btc I keep the NMC however you can get proportional namecoins if you like.

Your shares are updated once a NMC block is found so the more blocks we find the faster you BTC end up in your wallet.

Merged mining, here I come Smiley

Where does it say that his pool is using merged mining currently?
It doesn't.  It is still NMC mining.

"I walked into the room dripping in Bitcoins.  Yea dripping in Bitcoins."
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