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Author Topic: [ANN] ★★ EBT Coin - Entropybit 100% PoS - Multipool - Bugfix version 4.0.3! ★★  (Read 130708 times)
tx42
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May 09, 2014, 07:24:49 PM
 #1381

I have full and better understand of PoS coins than you, and I very well know how PoS works..

No you don't. You simply don't make any sense.

Your worst error is suggesting above that the difficulty of PoS has any bearing on the protection that PoS provides a coin.


Let's look at just a few of your other comments:

Quote
Even mintcoin (100% PoS) has a difficulty of 0.243. It provides 0% protection and 20% interest rate.

If 100% of mint has 0% protection, then why has it not succumbed to an attack on its vulnerabilities? The answer is that PoS provides the protection. You simply ignore (or more likely are unable to recognize) this fact.

Mint is protected by the PoS network.


You go on to contradict yourself:

Quote
You need to run a full node in order for the wallet to mine blocks based on PoS and it should be up always; how many people will do that?

Which you follow with

Quote
Proof of stake is not good. It encourages holding the coins as investment, avoiding it's circulation,

Which is it? First you suggest that too few will keep a wallet open to mint and then you suggest that too many people will do it.

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Terree Esguerra05
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May 09, 2014, 07:35:41 PM
 #1382

EBT most undervalued coin!

Vote! Vote everyday!
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May 09, 2014, 08:12:44 PM
 #1383

I Like EBT coin & god job Cool
CartGeezer
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May 09, 2014, 11:06:34 PM
 #1384


I like it, too.  I want to mine it for much longer than what we now have left.  It was disappointing enough to know mining was bye-bye next month, but now next week?

It seems the miners, who put this coin on the map originally supporting it, are taking the 60 grit up the exit port again.

That may not be how it is, but that's what it feels like to me.

CURE DEM DMD GPL HBN HYPER KED POT TEK  THC -   I'm such a PoS
tx42
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May 09, 2014, 11:20:18 PM
 #1385


I like it, too.  I want to mine it for much longer than what we now have left.  It was disappointing enough to know mining was bye-bye next month, but now next week?

It seems the miners, who put this coin on the map originally supporting it, are taking the 60 grit up the exit port again.

That may not be how it is, but that's what it feels like to me.

I thought you were outtta here. I mined this coin 24 hours per day for 2 months. Where were you when you could mine 35,000 coins a day with one card?

I'm glad it's going PoS. The sooner the better in my opinion.

Read the posts again, you aren't missing out on much coin. If you want a lot, just go buy some. It's still cheap!


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CartGeezer
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May 10, 2014, 12:19:41 AM
 #1386


I'm sorry I don't have the time to hang on my computer to watch for all the new coins. 

CURE DEM DMD GPL HBN HYPER KED POT TEK  THC -   I'm such a PoS
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May 10, 2014, 12:20:37 AM
 #1387


And I will express my opinion.  If you don't like it, hard feces.

CURE DEM DMD GPL HBN HYPER KED POT TEK  THC -   I'm such a PoS
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May 10, 2014, 12:33:25 AM
 #1388


I thought you were outtta here.

That's what I said.  I changed my mind and decided to give it another chance.  Silly me.

CURE DEM DMD GPL HBN HYPER KED POT TEK  THC -   I'm such a PoS
dE_logics
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May 10, 2014, 04:00:33 AM
 #1389

I have full and better understand of PoS coins than you, and I very well know how PoS works..

No you don't. You simply don't make any sense.

Your worst error is suggesting above that the difficulty of PoS has any bearing on the protection that PoS provides a coin.


Let's look at just a few of your other comments:

WOW what argument. You skipped the 'rest of the comments' so quick.

Quote from: tx42
Quote
Even mintcoin (100% PoS) has a difficulty of 0.243. It provides 0% protection and 20% interest rate.

If 100% of mint has 0% protection, then why has it not succumbed to an attack on its vulnerabilities? The answer is that PoS provides the protection. You simply ignore (or more likely are unable to recognize) this fact.

Mint is protected by the PoS network.

So according to you, high difficulty does not provide any protection against any kind of attacks. I bet you'll not respond to this argument, you'll treat it as 'rest of the comments'.

The reason why it has not been attacked is cause even this coin has not been attacked yet. Once an attacker realizes this and once he think it's profitable, then he'll attack. Besides this one is another pump and dump coin.

Quote from: tx42
You go on to contradict yourself:

Quote
You need to run a full node in order for the wallet to mine blocks based on PoS and it should be up always; how many people will do that?

Which you follow with

Quote
Proof of stake is not good. It encourages holding the coins as investment, avoiding it's circulation,

Which is it? First you suggest that too few will keep a wallet open to mint and then you suggest that too many people will do it.


So according to you keeping a wallet up = more circulation of coins.

WOW what logic.
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May 10, 2014, 06:20:16 AM
 #1390

I finally received my withdrawel from EBT! It all seems to work fine!

Anybody knows how I can get rid of a bunch of unconfirmed transactions from three weeks ago? They are staked coins that were never confirmed.

If it was easy, everybody would be doing it
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May 10, 2014, 06:52:08 AM
 #1391

So according to you, high difficulty does not provide any protection against any kind of attacks.

For Proof of Stake, difficulty does not translate into security. Difficulty in Proof of Stake is a parameter used to keep the block times close to the target. Security in Proof of Stake comes from the stake. That's why it's called "Proof of Stake".

Try this experiment: pick a Proof of Stake coin like Blade with a tiny PoS difficulty and buy say 10,000 BLA. Now, you'll have some stake. Split it into 10,000 transactions and put these in a wallet on a machine with as many GPUs as you have. Since everyone staking blade right now is staking on their CPUs, the total network hashes is maybe 10 KH/s. So, with a modest investment, you could have easily 100 times the hashes as the entire rest of the network--for staking. Now, see how long it takes you to 51% the Blade network with this setup.

Of you course won't try because you know that such a plan would never work given that you wouldn't own the requisite 51% of Blade to launch a successful 51% PoS attack. Acquiring that stake, my friend, will cost you. But if you try, and when you get close to 51% ownership, please let me know and I will, as a kind favor, sell you mine for market price. Then, when you crash your own hard-won investment just to make a point, we can both have a hearty laugh at your success.

On the other hand, when you get desperate to validate your own ideologies (or more likely get frustrated with me personally for being so correct in these matters), you must resist the urge to set your GPUs solving Proof of Work blocks to attack Blade, because that would basically be your admission that PoW is indeed the weak link in a PoW/PoS coin.

█    █     ██    ███     ███    ████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████     ███     ███    ██     █    █
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dE_logics
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May 10, 2014, 10:05:03 AM
 #1392

So according to you, high difficulty does not provide any protection against any kind of attacks.

For Proof of Stake, difficulty does not translate into security. Difficulty in Proof of Stake is a parameter used to keep the block times close to the target. Security in Proof of Stake comes from the stake. That's why it's called "Proof of Stake".

Try this experiment: pick a Proof of Stake coin like Blade with a tiny PoS difficulty and buy say 10,000 BLA. Now, you'll have some stake. Split it into 10,000 transactions and put these in a wallet on a machine with as many GPUs as you have. Since everyone staking blade right now is staking on their CPUs, the total network hashes is maybe 10 KH/s. So, with a modest investment, you could have easily 100 times the hashes as the entire rest of the network--for staking. Now, see how long it takes you to 51% the Blade network with this setup.

Of you course won't try because you know that such a plan would never work given that you wouldn't own the requisite 51% of Blade to launch a successful 51% PoS attack. Acquiring that stake, my friend, will cost you. But if you try, and when you get close to 51% ownership, please let me know and I will, as a kind favor, sell you mine for market price. Then, when you crash your own hard-won investment just to make a point, we can both have a hearty laugh at your success.

On the other hand, when you get desperate to validate your own ideologies (or more likely get frustrated with me personally for being so correct in these matters), you must resist the urge to set your GPUs solving Proof of Work blocks to attack Blade, because that would basically be your admission that PoW is indeed the weak link in a PoW/PoS coin.

Oh, no these claims that you make are nothing new to me -- many people said this to me many times, and they took their words back by not posting anything at all. And history repeats itself again and again, and I'm going to remind you about this as long as you're active in this forum.

Ok, now I've better understanding of PoS and the difficulty, all thanks to you. So before we proceed, I would like to clear a few more concepts and be sure our understands are in line.

So suppose we have 2 different coins (A and B) with identical PoS specs with one difference -- A has 100 active active miners and B has 10 active miners.

Difficulty of A will be higher than B right? Even though the no. of coins on line are the same.
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May 10, 2014, 04:24:24 PM
 #1393

So suppose we have 2 different coins (A and B) with identical PoS specs with one difference -- A has 100 active active miners and B has 10 active miners.

Difficulty of A will be higher than B right? Even though the no. of coins on line are the same.

Why would the difficulty of A be higher? You are trying to conflate apples and oranges.

Let me separate the concepts for you:

If it were a PoW network with 10 miners and someone had the mining capacity of 100 miners, they could easily attack the coin.

If it were a PoS network with 10 miners and and someone had the mining capacity of 100 miners, they'd still need to buy up 51% of the coin, making half of the original miners rich.

That's the difference and that's the reason you have never proven yourself correct by attacking a PoS coin. You just don't have the funds to do it.

I guess the route you have chosen is to spam PoS coin threads with your anti-PoS blog text. I agree, that may be a modestly effective way to attack PoS coins, but it doesn't change the underlying reality.

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dE_logics
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May 10, 2014, 04:39:27 PM
 #1394

So suppose we have 2 different coins (A and B) with identical PoS specs with one difference -- A has 100 active active miners and B has 10 active miners.

Difficulty of A will be higher than B right? Even though the no. of coins on line are the same.

Why would the difficulty of A be higher? You are trying to conflate apples and oranges.

Let me separate the concepts for you:

If it were a PoW network with 10 miners and someone had the mining capacity of 100 miners, they could easily attack the coin.

If it were a PoS network with 10 miners and and someone had the mining capacity of 100 miners, they'd still need to buy up 51% of the coin, making half of the original miners rich.

That's the difference and that's the reason you have never proven yourself correct by attacking a PoS coin. You just don't have the funds to do it.

I guess the route you have chosen is to spam PoS coin threads with your anti-PoS blog text. I agree, that may be a modestly effective way to attack PoS coins, but it doesn't change the underlying reality.


What do you mean by this --

Quote
Try this experiment: pick a Proof of Stake coin like Blade with a tiny PoS difficulty and buy say 10,000 BLA. Now, you'll have some stake. Split it into 10,000 transactions and put these in a wallet on a machine with as many GPUs as you have. Since everyone staking blade right now is staking on their CPUs, the total network hashes is maybe 10 KH/s. So, with a modest investment, you could have easily 100 times the hashes as the entire rest of the network--for staking. Now, see how long it takes you to 51% the Blade network with this setup.

You did agree if people split their incoming transaction across 1 coin each (that means if someone has 10000 blade, the wallet will have 10,000 transactions of 1 each) the difficulty will rise.

If you prove your point, I'll hike ratings of PoS coins in my blog make changes in my ultimate crypto article. But off the 10s of debates I've gone through, this has never happens. Regardless of how confident the guy is, he always looses.
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May 10, 2014, 05:16:29 PM
 #1395

Bickering in this thread is only going to diminish faith in this coin. I know that, when I'm looking at altcoins to invest time/money/resources in, arguing is the kind of thing that tells me to move on to the next coin. I want to see people talking about plans for the coin, for the market, working together on solutions and ideas rather than entertaining every debate they run across.

Just a thought. I'm already heavily invested in this coin, but many people reading this thread are still only considering whether to get involved.
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May 10, 2014, 05:28:52 PM
 #1396

Just a thought. I'm already heavily invested in this coin, but many people reading this thread are still only considering whether to get involved.

The future for this coin is PoS. De_logics claims that PoS is not good. Do you want this claim to go unanswered in this thread? His claim is simply not true and I will address the claim each time he renews it.

I have a reasonably sized buy order at a low price. If you don't like the bickering, please feel free to dump right into it. Let me know and I'll add to my order.

█    █     ██    ███     ███    ████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████     ███     ███    ██     █    █
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May 10, 2014, 07:04:06 PM
 #1397

Just a thought. I'm already heavily invested in this coin, but many people reading this thread are still only considering whether to get involved.

The future for this coin is PoS. De_logics claims that PoS is not good. Do you want this claim to go unanswered in this thread? His claim is simply not true and I will address the claim each time he renews it.

I have a reasonably sized buy order at a low price. If you don't like the bickering, please feel free to dump right into it. Let me know and I'll add to my order.


I think R0bd0b has a good point, but also think discussion is good. For me it is a good indication that people talk about it at least Smiley

If it was easy, everybody would be doing it
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May 10, 2014, 08:12:26 PM
 #1398

Just a thought. I'm already heavily invested in this coin, but many people reading this thread are still only considering whether to get involved.

The future for this coin is PoS. De_logics claims that PoS is not good. Do you want this claim to go unanswered in this thread? His claim is simply not true and I will address the claim each time he renews it.

I have a reasonably sized buy order at a low price. If you don't like the bickering, please feel free to dump right into it. Let me know and I'll add to my order.


I have no interest in dumping my 2,000,000 EBT, I'm only suggesting that seemingly endless back-and-forth arguments might be better suited for PMs. Better yet, a general debate about the merits and faults of PoS coins might be better suited for its own thread, as the specifics and outcome of such a discussion aren't relevant solely to this coin. Maybe create a new thread and link to it from this one so that people looking for specific information or discussion on EBT aren't impeded by all the bickering and dissuaded from getting involved.
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May 11, 2014, 03:19:38 AM
 #1399

Just a thought. I'm already heavily invested in this coin, but many people reading this thread are still only considering whether to get involved.

The future for this coin is PoS. De_logics claims that PoS is not good. Do you want this claim to go unanswered in this thread? His claim is simply not true and I will address the claim each time he renews it.

I have a reasonably sized buy order at a low price. If you don't like the bickering, please feel free to dump right into it. Let me know and I'll add to my order.


There's no answer yet from your side.
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May 11, 2014, 03:28:02 AM
 #1400

If you prove your point, I'll hike ratings of PoS coins in my blog make changes in my ultimate crypto article. But off the 10s of debates I've gone through, this has never happens. Regardless of how confident the guy is, he always looses.

Prove what, exactly?

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..EARN FREE BREAKOUT COINS SIG CAMPAIGN LIVE !!
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