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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1279233 times)
gonzoucab
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April 02, 2014, 05:38:13 PM
 #11861

What is the nature of the attack and what are the risks to people currently holding Mint?

Was a 51 attack over POW part, cant go further since POS kick back in

If you are paranoid use more than 120 confirmations, this will exclude this attack since POS will always kick back in less than an hour

No double spend can be made with this attack.
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moderndezigns
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April 02, 2014, 05:39:17 PM
 #11862

We have been made aware of potential security issues for MintCoin recently. As we always do, we're actively looking into these issues if any. If there is anything to fix, we'll do it, and we'll do it the best way possible.

If there is anything to fix?

You can clearly see the attack in the blockchain...

I suggest that we do the same as the blackcon group and report trolls
Party Hard
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April 02, 2014, 05:43:02 PM
 #11863

What is the nature of the attack and what are the risks to people currently holding Mint?

Was a 51 attack over POW part, cant go further since POS kick back in

If you are paranoid use more than 120 confirmations, this will exclude this attack since POS will always kick back in less than an hour

No double spend can be made with this attack.
Would that slow confirmation/transaction time to (120 * 30sec = 1 hour) or is that completely wrong?

Ladies ladies, one at a time.
sixteendigits
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April 02, 2014, 05:47:57 PM
 #11864

Well, that response from the devs wasn't quite as reassuring as I would have liked, but I definitely am not selling in the midst of a panic.  Suppose I'll withdrawal my daytrading MINT from cryptsy to my local wallet for now, wait a few weeks, and hopefully this all blows over soon.
mr_random
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April 02, 2014, 05:50:12 PM
 #11865

We have been made aware of potential security issues for MintCoin recently. As we always do, we're actively looking into these issues if any. If there is anything to fix, we'll do it, and we'll do it the best way possible.

I'd like to take this opportunity to point out to all the people who FREAKED OUT and said the devs are douchebags and losers, that the dev team replied within an hour of all this bellyaching and name calling.

People get pissed off when I call individuals out by name for being turds, but you know who you are. Others and newcomers reading this part of the thread should take note of the people who obviously have ulterior motives. Don't be fooled by people trying to scare you. Use your brain and think for yourself. Bottom line, the dev team is on it, Mintcoin is all systems go.


Uh what. Blackcoin team emailed Mintcoin dev over 20 hours ago about this privately and Mintcoin dev wouldn't regonise the problem.

Even now when it's gone public the mintcoin dev still states he'll fix it if it's a problem. Good luck putting your faith in a dev who can't read the blockchain and recognise what has happened  Cheesy

Party Hard
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April 02, 2014, 05:56:49 PM
 #11866

We have been made aware of potential security issues for MintCoin recently. As we always do, we're actively looking into these issues if any. If there is anything to fix, we'll do it, and we'll do it the best way possible.

I'd like to take this opportunity to point out to all the people who FREAKED OUT and said the devs are douchebags and losers, that the dev team replied within an hour of all this bellyaching and name calling.

People get pissed off when I call individuals out by name for being turds, but you know who you are. Others and newcomers reading this part of the thread should take note of the people who obviously have ulterior motives. Don't be fooled by people trying to scare you. Use your brain and think for yourself. Bottom line, the dev team is on it, Mintcoin is all systems go.


Uh what. Blackcoin team emailed Mintcoin dev over 20 hours ago about this privately and Mintcoin dev wouldn't regonise the problem.

Even now when it's gone public the mintcoin dev still states he'll fix it if it's a problem. Good luck putting your faith in a dev who can't read the blockchain and recognise what has happened  Cheesy
Whoa! You're kidding me!


Ladies ladies, one at a time.
mgburks77
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April 02, 2014, 05:59:24 PM
 #11867

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector
sargecap
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April 02, 2014, 06:01:55 PM
 #11868

We have been made aware of potential security issues for MintCoin recently. As we always do, we're actively looking into these issues if any. If there is anything to fix, we'll do it, and we'll do it the best way possible.

I'd like to take this opportunity to point out to all the people who FREAKED OUT and said the devs are douchebags and losers, that the dev team replied within an hour of all this bellyaching and name calling.

People get pissed off when I call individuals out by name for being turds, but you know who you are. Others and newcomers reading this part of the thread should take note of the people who obviously have ulterior motives. Don't be fooled by people trying to scare you. Use your brain and think for yourself. Bottom line, the dev team is on it, Mintcoin is all systems go.


Uh what. Blackcoin team emailed Mintcoin dev over 20 hours ago about this privately and Mintcoin dev wouldn't regonise the problem.

Even now when it's gone public the mintcoin dev still states he'll fix it if it's a problem. Good luck putting your faith in a dev who can't read the blockchain and recognise what has happened  Cheesy

i dumped my mint already. I may buy back in if the dev pulls his finger out of his ass or I may convert the rest into blackcoin. They do seem to have one of the best devs around who actually understands the code. Proven by their mint vulnerability discovery
mgburks77
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April 02, 2014, 06:03:06 PM
 #11869


I recommend you go with black coin
mr_random
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April 02, 2014, 06:04:22 PM
 #11870

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector

1 hour worth of blocks in the block chain were reduced to proof of work only. And the proof of work difficulty is ridiculously low due to the 1 block reward being no incentive to proof of work miners.

A double spend attack in that 1 hour block would be a piece of cake. You're lucky the blackcoin developer isn't malicious or your MINT would have lost 500% of it's value right now... but that could still happen anyway the way the market is reacting to this news

stormia
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April 02, 2014, 06:07:45 PM
 #11871


I recommend you go with black coin

Why is blackcoin's price falling, too? I see big dumps. I would have thought bad news for Mint == good news for BC.
Soepkip
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April 02, 2014, 06:09:26 PM
 #11872

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector

Actually, the only reason PoS kicked back in is because we stopped the attack. One could easily stop the PoS chain for 24 hours+ if he'd wanted to. Hell, even a year is possible.

Also, this is a 2 part attack:

1) Make the coin PoW only
2) 51% attack.

The second part we did not perform, but we could've done a double spend then.

Anyhow, good that the dev finally reacted, hope to see a fix soon!

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drent301
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April 02, 2014, 06:13:01 PM
 #11873

Thanks for the panic!

Just bought some very cheap Mint! Wink
mgburks77
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April 02, 2014, 06:14:52 PM
 #11874

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector

Actually, the only reason PoS kicked back in is because we stopped the attack. One could easily stop the PoS chain for 24 hours+ if he'd wanted to. Hell, even a year is possible.

Also, this is a 2 part attack:

1) Make the coin PoW only
2) 51% attack.

The second part we did not perform, but we could've done a double spend then.

Anyhow, good that the dev finally reacted, hope to see a fix soon!

they said they would release a fix if one becomes necessary because theoretical possibilities are not much to worry about

dille71
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April 02, 2014, 06:15:51 PM
 #11875

What is the nature of the attack and what are the risks to people currently holding Mint?

Was a 51 attack over POW part, cant go further since POS kick back in

If you are paranoid use more than 120 confirmations, this will exclude this attack since POS will always kick back in less than an hour

No double spend can be made with this attack.
How to configure how many confirmations to use?

Mintcoin: MsFGc9atNN6DddEsQHiq7MgDieoSLwtmg5
InformationCoin: Je4ZhmQBSd68oZ7CeXWMrWEsyprTXAVFuX
pym002
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April 02, 2014, 06:16:59 PM
 #11876

Thanks for the panic!

Just bought some very cheap Mint! Wink

like people who do not know how to wait and give time for a currency will have remorse later

M.Jcoin :MCyadDsyoNTk6xwxQZ7ro8Nj5wSR9uzojC
XbladeX
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April 02, 2014, 06:18:14 PM
 #11877

What is the nature of the attack and what are the risks to people currently holding Mint?

Was a 51 attack over POW part, cant go further since POS kick back in

If you are paranoid use more than 120 confirmations, this will exclude this attack since POS will always kick back in less than an hour

No double spend can be made with this attack.
https://en.bitcoin.it/wiki/Proof_of_Stake
then
https://en.bitcoin.it/wiki/Double-spending
and finaly:

>50% attack

If the attacker controls more than half of the network hashrate, the previous attack has a probability of 100% to succeed. Since the attacker can generate blocks faster than the rest of the network, he can simply persevere with his private fork until it becomes longer than the branch built by the honest network, from whatever disadvantage.

No amount of confirmations can prevent this attack; however, waiting for confirmations does increase the aggregate resource cost of performing the attack, which could make it unprofitable or delay it long enough for the circumstances to change or slower-acting synchronization methods to kick in.
_______________________________________________________________________________ ____________
Mint attack 51% of POW part was successful no POS block was generated during test attack.
Just becouse test attack wasn't created to enebled double spend that doesn't meant it is impossible.
Do you realy want attack to create panic ?

"Successfully tested on Mintcoin: no PoS blocks from 203231 up to 203441, more than 1 hour of real time."
just check blocks in explorer to see it was for real...
Mint just need fast fix that is all

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olor]log[/url]     
dille71
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April 02, 2014, 06:18:18 PM
 #11878

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector

Actually, the only reason PoS kicked back in is because we stopped the attack. One could easily stop the PoS chain for 24 hours+ if he'd wanted to. Hell, even a year is possible.

Also, this is a 2 part attack:

1) Make the coin PoW only
2) 51% attack.

The second part we did not perform, but we could've done a double spend then.

Anyhow, good that the dev finally reacted, hope to see a fix soon!

they said they would release a fix if one becomes necessary because theoretical possibilities are not much to worry about


The dev should try to reproduce this and see if it is a problem. For all we know rat4 and his team could have tried this over and over and when they finally manage to get 100 blocks in a row they posted that result as if it is an easy task...

Mintcoin: MsFGc9atNN6DddEsQHiq7MgDieoSLwtmg5
InformationCoin: Je4ZhmQBSd68oZ7CeXWMrWEsyprTXAVFuX
mgburks77
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April 02, 2014, 06:22:16 PM
 #11879

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector

Actually, the only reason PoS kicked back in is because we stopped the attack. One could easily stop the PoS chain for 24 hours+ if he'd wanted to. Hell, even a year is possible.

Also, this is a 2 part attack:

1) Make the coin PoW only
2) 51% attack.

The second part we did not perform, but we could've done a double spend then.

Anyhow, good that the dev finally reacted, hope to see a fix soon!

they said they would release a fix if one becomes necessary because theoretical possibilities are not much to worry about


The dev should try to reproduce this and see if it is a problem. For all we know rat4 and his team could have tried this over and over and when they finally manage to get 100 blocks in a row they posted that result as if it is an easy task...

they know what they are doing, these guys are just trying to scare you
mr_random
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April 02, 2014, 06:22:35 PM
 #11880

Stop with the FUD it's already been shown that the attack was foiled by the proper functioning of the coin and no doublespend is achievable by that vector

Actually, the only reason PoS kicked back in is because we stopped the attack. One could easily stop the PoS chain for 24 hours+ if he'd wanted to. Hell, even a year is possible.

Also, this is a 2 part attack:

1) Make the coin PoW only
2) 51% attack.

The second part we did not perform, but we could've done a double spend then.

Anyhow, good that the dev finally reacted, hope to see a fix soon!

they said they would release a fix if one becomes necessary because theoretical possibilities are not much to worry about



You would rather it's not theoretical and he actually 51% attacks your mint blockchain??  Cheesy

You should be careful what you wish for. He reduced the network to relying on almost zero difficulty proof of work mining, a 51% attack at that point is trivial.

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