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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1312733 times)
moderndezigns
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March 29, 2014, 05:55:53 AM
 #11101

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

I agree with others if you were sincere you would send a private message
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coolbeans94
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March 29, 2014, 05:59:52 AM
 #11102

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

It is coins * coin age. So the more coins you have and the longer you wait before activating minting, will affect how fast once you start minting it will succesfully get block generation. There are algorithms and randomness controls built into it so that the chance of one person being able to get even 10 consecutive blocks is remote, let alone 60. Overall, PoS/PoW is more secure against a perpetual 51% style attack. Just wait for your confirmations, that is what they are there for. Wait for 200 confirmations if you are worried about security.

(1.) Moral happiness depends upon moral order.
(2.) Moral order depends upon the harmonious action of all our powers, as
individuals and as members of society.
deadmanwalking
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March 29, 2014, 06:05:06 AM
 #11103

Hey anonymous64, I appreciate the thought man, just not the delivery.

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stormia
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March 29, 2014, 06:10:40 AM
 #11104

from http://www.peercointalk.org/index.php?topic=401.0

"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

This does have me wondering how a pure PoS coin prevents this, since there IS a guarantee that the next block will be PoS...
Anonymousg64
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March 29, 2014, 06:10:44 AM
 #11105

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

It is coins * coin age. So the more coins you have and the longer you wait before activating minting, will affect how fast once you start minting it will succesfully get block generation. There are algorithms and randomness controls built into it so that the chance of one person being able to get even 10 consecutive blocks is remote, let alone 60. Overall, PoS/PoW is more secure against a perpetual 51% style attack. Just wait for your confirmations, that is what they are there for. Wait for 200 confirmations if you are worried about security.

for PoS generation it is only coin age, if it was what you say, you would generate PoS from 1million MINT in 34seconds

im looking at the source atm, i may be wrong
dille71
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March 29, 2014, 06:12:41 AM
 #11106

Multipool launched!!

I'm happy to announce, that http://hashco.ws has now launched its 'Get Paid in MintCoin' option to the pool. Sign Up, and head on over to 'Account Settings' where you'll see the option of changing from the standard BTC payout option to MINT.
Our pool also has the unique option of being able to keep other altcoins we mine as well, should you so choose. We welcome all the members of the mint community who wish to give us a shot. Please feel free to join us on irc. Freenode / #hashcows Its in a bit of a beta these first few days, as we work out any kinks with the mint payouts specifically, however the pool itself has been operational for more than 6 months now. MINT payouts will happen between 03:30 - 04:00 GMT daily.
For the time being, there is no additional fee for being paid out in MINT vs. BTC
Happy Mining


MORE MINERS NEEDED!!

Mintcoin: MsFGc9atNN6DddEsQHiq7MgDieoSLwtmg5
InformationCoin: Je4ZhmQBSd68oZ7CeXWMrWEsyprTXAVFuX
deadmanwalking
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March 29, 2014, 06:16:23 AM
 #11107

from http://www.peercointalk.org/index.php?topic=401.0

"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

This does have me wondering how a pure PoS coin prevents this, since there IS a guarantee that the next block will be PoS...

Sounds like a blackcoin problem.

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deadmanwalking
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March 29, 2014, 06:18:15 AM
 #11108

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

It is coins * coin age. So the more coins you have and the longer you wait before activating minting, will affect how fast once you start minting it will succesfully get block generation. There are algorithms and randomness controls built into it so that the chance of one person being able to get even 10 consecutive blocks is remote, let alone 60. Overall, PoS/PoW is more secure against a perpetual 51% style attack. Just wait for your confirmations, that is what they are there for. Wait for 200 confirmations if you are worried about security.

for PoS generation it is only coin age, if it was what you say, you would generate PoS from 1million MINT in 34seconds

im looking at the source atm, i may be wrong

Thanks for looking into it, let's just keep calm in here.  Wink

171XPWLy36oDmQfMdnPYWHfQgkfRoYGjHd
stormia
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March 29, 2014, 06:21:52 AM
 #11109

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

Less damage? If you were trying to prevent the most damage than you would PM the devs of the most valuable PoS coins... You would not go shouting out how to attack PoS coins. You would not be spreading uncertainty on a new coin which is most vulnerable to such fud.

I'm just trying to figure out what the reasoning is for posing here.. it makes no sense if you are trying to prevent damage...

also, based on what is discussed here http://www.peercointalk.org/index.php?topic=401.0

"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

Pure PoS coins sound way more vulnerable, so why not inform them first or at all?
Anonymousg64
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March 29, 2014, 06:27:16 AM
 #11110

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

Less damage? If you were trying to prevent the most damage than you would PM the devs of the most valuable PoS coins... You would not go shouting out how to attack PoS coins. You would not be spreading uncertainty on a new coin which is most vulnerable to such fud.

I'm just trying to figure out what the reasoning is for posing here.. it makes no sense if you are trying to prevent damage...

also, based on what is discussed here http://www.peercointalk.org/index.php?topic=401.0

"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

Pure PoS coins sound way more vulnerable, so why not inform them first or at all?

 if i were right, PoW would be useless in the event of an attack, because the high rate of PoS blocks would cause difficulty to jump into unminable levels
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March 29, 2014, 06:39:46 AM
 #11111

You would still have to get every block in a row. And what are you talking about with transactions? Transactions destroy coin age. The user has no control over when the coins stake.

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stormia
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March 29, 2014, 06:40:30 AM
 #11112

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

Less damage? If you were trying to prevent the most damage than you would PM the devs of the most valuable PoS coins... You would not go shouting out how to attack PoS coins. You would not be spreading uncertainty on a new coin which is most vulnerable to such fud.

I'm just trying to figure out what the reasoning is for posing here.. it makes no sense if you are trying to prevent damage...

also, based on what is discussed here http://www.peercointalk.org/index.php?topic=401.0

"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

Pure PoS coins sound way more vulnerable, so why not inform them first or at all?

 if i were right, PoW would be useless in the event of an attack, because the high rate of PoS blocks would cause difficulty to jump into unminable levels

Okay,
Still haven't responded the first point of my posts:
"If you were trying to prevent the most damage than you would PM the devs of the most valuable PoS coins... You would not go shouting out how to attack PoS coins."

Also,
How does this not apply to what you are saying: "There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

How can you generate PoS blocks at a reliably and sufficiently high rate if there will be PoW blocks interrupting you and other people's PoS blocks interrupting you? Woudn't those PoW blocks and PoS blocks reject your blocks, and you would lose your stake?



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March 29, 2014, 06:48:21 AM
 #11113

The formula is coin age + number of coins. We've seen orphans from people who's coins weren't sufficiently aged, or they didn't have enough of them. These have to be re-staked.

Just based off of that alone, his proposal is impossible. The micro transactions would just be orphaned. Anyway, we've allowed him to take over the thread with a half baked theory, which has now been debunked. Moving on.

171XPWLy36oDmQfMdnPYWHfQgkfRoYGjHd
Anonymousg64
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March 29, 2014, 06:54:55 AM
 #11114

looking at the source to double check

Why not inform the other PoS communities. You know, the ones that are worth more and have much more to lose- if you really believe this and you are really doing this in good faith. Also, if this really was a way to attack PoS and you wanted to help WHY WOULD YOU POST HOW TO ATTACK ON A PUBLIC FORUM!? You could simply pm the devs and let them know "how to fix it" as you claim to know how.

less damage asking on smaller coin forum

there should be a few among this community who are well versed with how their coin works right?

Less damage? If you were trying to prevent the most damage than you would PM the devs of the most valuable PoS coins... You would not go shouting out how to attack PoS coins. You would not be spreading uncertainty on a new coin which is most vulnerable to such fud.

I'm just trying to figure out what the reasoning is for posing here.. it makes no sense if you are trying to prevent damage...

also, based on what is discussed here http://www.peercointalk.org/index.php?topic=401.0

"There are a lot more PoS blocks than Pow. Once you mint a block with your coins they are locked in stake for 520 blocks, and the PoS mints with a transactions size ie if you get 1000PPC and the transaction is old enough it will mint and your PPCs will be locked in stake. There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

Pure PoS coins sound way more vulnerable, so why not inform them first or at all?

 if i were right, PoW would be useless in the event of an attack, because the high rate of PoS blocks would cause difficulty to jump into unminable levels

Okay,
Still haven't responded the first point of my posts:
"If you were trying to prevent the most damage than you would PM the devs of the most valuable PoS coins... You would not go shouting out how to attack PoS coins."

Also,
How does this not apply to what you are saying: "There is no guarantee that the next block will be PoS so you have to own 51% PoW, and if you have a bunch of old coins there is no guarantee that you find all the PoS blocks in a row either ... So NO finding six blocks and double spending might risk the network rejecting your blocks and losing your stake..."

How can you generate PoS blocks at a reliably and sufficiently high rate if there will be PoW blocks interrupting you and other people's PoS blocks interrupting you? Woudn't those PoW blocks and PoS blocks reject your blocks, and you would lose your stake?





i was hoping someone better versed could tell me otherwise, i did not really plan where i was posting, mint was closest to mind for PoS coin

you dont lose your stake if a block is rejected,
difficulty is calculated using PoS blocks also, so the difficulty can quite easily be pushed up (depending what the re-target time span is but for mint it is every block)
im trying to find how it is that you cannot generate PoS blocks in a row, if that limitation is built into the wallet, then it can be curcumvented
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March 29, 2014, 06:57:44 AM
 #11115

Poof. Buy walls are gone. Success, Anonymousg64? Or just coincidence?
Anonymousg64
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March 29, 2014, 06:57:55 AM
 #11116

The formula is coin age + number of coins. We've seen orphans from people who's coins weren't sufficiently aged, or they didn't have enough of them. These have to be re-staked.

Just based off of that alone, his proposal is impossible. The micro transactions would just be orphaned. Anyway, we've allowed him to take over the thread with a half baked theory, which has now been debunked. Moving on.

from my observations, its exactly 20 days, no matter how much coins you have
orphans are immediately re-staked, usually caused by another block being accepted before yours propagated

spending coins will affect previous coins, which usually explains those who get delays
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March 29, 2014, 06:59:03 AM
 #11117

Poof. Buy walls are gone. Success, Anonymousg64? Or just coincidence?

im not interested in mint value so coincidence
stormia
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March 29, 2014, 07:00:19 AM
 #11118

this is what you said on the Zeit forum, over an hour ago: https://bitcointalk.org/index.php?topic=487814.msg5962705#msg5962705

"It seemed to make sense from my limited understanding and lack of awareness in the specific algorithms for proof of stake


currently looking at the source code, its likely i was wrong

if only it wasn't such a disorganized mess i could of avoided this embarrassment"
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March 29, 2014, 07:02:20 AM
 #11119

Poof. Buy walls are gone. Success, Anonymousg64? Or just coincidence?

im not interested in mint value so coincidence

Well to be fair I wasn't suspecting you are interested in Mint value. I was suspecting that you are interested in the value of another, possibly "competing" coin. Or perhaps you are just interested at getting mint at a lower value because you know how awesome it is  Kiss  ?
Gates123
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March 29, 2014, 07:03:01 AM
 #11120

Mintcoin is really good Coin. I told it to my neighbor friends and family ,everyone bought 1 btc

ShareCoin Free and Fair Distribution. SPtnL6yVng2XxRr5LaG3qfAc2fGu9uHdRJ
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