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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1280762 times)
stormia
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April 02, 2014, 08:40:32 PM
 #12001

See everybody, things are going to be just fine. Stay calm, be patient. Lets start returning focus to important future developments such as:
Mintcoin Foundation
Android wallet
PR and advertising
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April 02, 2014, 08:43:33 PM
 #12002

I actually wondered why they left POW in to begin with. Since the block reward is only 1 coin I can't imagine anyone doing POW??

Leave should be give
Or have more choice
Better place
 Grin Grin
thisisit
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April 02, 2014, 08:46:27 PM
 #12003

ehm... i certainly do hope they test it on a testnet first.

any coin that makes me a profit.
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April 02, 2014, 08:47:37 PM
 #12004

ehm... i certainly do hope they test it on a testnet first.
It seems like a very easy fix....

Mintcoin: MsFGc9atNN6DddEsQHiq7MgDieoSLwtmg5
InformationCoin: Je4ZhmQBSd68oZ7CeXWMrWEsyprTXAVFuX
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April 02, 2014, 08:48:41 PM
 #12005

I actually wondered why they left POW in to begin with. Since the block reward is only 1 coin I can't imagine anyone doing POW??

That's just cos they didn't know what they were doing and thought it would bring enhanced protection of the blockchain (I guess a reasonable enough assumption if someone isn't familiar with code and just forked peercoin from github without understanding it). But it actually weakened the blockchain.

I think it's a smart move to follow Blackcoin's lead and copy the pure proof of stake approach.

Whether the Mintcoin knows how to handle a pure proof of stake coin, that is a separate matter. You'll see what I mean by that.

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April 02, 2014, 08:48:45 PM
 #12006

always test. +1 million

and yes, smart move to copy bc's lead to remove pow.

any coin that makes me a profit.
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April 02, 2014, 08:51:43 PM
 #12007

Quote
static const int CUTOFF_POW_BLOCK = 220000;

if (IsProofOfWork() && nHeight > CUTOFF_POW_BLOCK)
     return DoS(100, error("AcceptBlock() : No proof-of-work allowed anymore (height = %d)", nHeight));

https://github.com/mintcoinproject/mintcoin/commit/dad79713d4172a569238de1b736abfbf307acfbd

Welcome to POS only guys Smiley
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April 02, 2014, 08:52:18 PM
 #12008


On behalf of rat4, you're welcome.

If my post has helped you in some way, please consider donating-Blackcoin: BRJLA6cgXyyYaDfetVoSpo8pNmQDRAfuPA
Beaverslayer
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April 02, 2014, 08:54:08 PM
 #12009

yes, and the "attack", and the lack of response from devs. all small merchants. wordpress merchants.

and and and.



Wordpress merchants do suck more than raw coders.

However, it isn't terrible.

I'll remember to send this to any merchants BC may get, so they can see exactly what kind of people BC irk are.
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April 02, 2014, 08:54:23 PM
 #12010

Quote
static const int CUTOFF_POW_BLOCK = 220000;

if (IsProofOfWork() && nHeight > CUTOFF_POW_BLOCK)
     return DoS(100, error("AcceptBlock() : No proof-of-work allowed anymore (height = %d)", nHeight));

https://github.com/mintcoinproject/mintcoin/commit/dad79713d4172a569238de1b736abfbf307acfbd

Welcome to POS only guys Smiley

That doesnt mean that, mint will keep Hybryd!

read:

http://www.netcoin.io/wiki/Algorithms_for_PoS_Voters_to_Assess_the_Validity_of_PoW_Blocks

We are changing cutoff of blocks that attack, but this parametter need to be adjusted for the network size.

I doesnt need a FORK!!!

Clean solution from DEVS!
maarx
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April 02, 2014, 08:55:53 PM
 #12011

Sry my bad then. Good to see a solution in any case Smiley
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April 02, 2014, 08:57:22 PM
 #12012

Bitcoin will probably drop further, its bubble has already burst, its down to $490 now, I dont see much tong term stability in POW coins, the mining costs just become too high and look at all the mining farms required to keep it running.
POS is the only way to go and NXT and other similar coins will have some long term future.
Ive got only about 100K mint, and at 20% PA, it is not much for the first year, Its an interesting concept, but once NXT gets more distribution, i think it will take off.
Check out hashrate.org or NXTp00l.org if you want to mine SCRYPT or SHA-256 coins and exchange them for NXT automatically.

THE XEMURAI WILL DELIVER
colinfx
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April 02, 2014, 08:58:24 PM
 #12013


On behalf of rat4, you're welcome.

+1

rat4 is a genius developer and was very kind to point this problem out to the MINT community before it was exploited by unsavoury characters. He just saved your coin a whole load of grief.
stormia
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April 02, 2014, 09:01:02 PM
 #12014

I actually wondered why they left POW in to begin with. Since the block reward is only 1 coin I can't imagine anyone doing POW??

That's just cos they didn't know what they were doing and thought it would bring enhanced protection of the blockchain (I guess a reasonable enough assumption if someone isn't familiar with code and just forked peercoin from github without understanding it). But it actually weakened the blockchain.

I think it's a smart move to follow Blackcoin's lead and copy the pure proof of stake approach.

Whether the Mintcoin knows how to handle a pure proof of stake coin, that is a separate matter. You'll see what I mean by that.

Nobody was aware of this issue, not just the mintcoin dev. There are many other PoS/PoW hybrids with low PoW block reward, I hope they have been informed as well. We (or at least I) am thankful that this problem was identified before it could be exploited. It looks like the fix may not use Blackcoin's pure PoS approach, so how about you wait and see before you continue to troll.
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April 02, 2014, 09:02:10 PM
 #12015

So, MINT is kinda weak right now and it's probably a good time to strike. Hypothetically, let's say a whale with a lot of MINT and BTC wanted to destroy MINT, what would he have to do? I don't think it is as simple as just dumping MINT into the ground, is it? If the whale were to buy up some BC, then dump on MINT, would that mean the MINT bagholders will drop their holdings and maybe move into BC, thereby pushing BC to the moon? I'm getting the feeling that BC is superior to MINT because we have a better community and better dev, rat4, who looks for problems to fix, whether it benefits BC or not.
"who looks for problems to fix, whether it benefits BC or not."
I think he was expecting, or at least many within the BC community were hoping, that exposing this would have driven BC up. Why is BC being dumped right now? Something we don't know about?
BC went up in price. 24 hour volume reached 7,405 satoshis. It has only dropped a little, by about 14%. MINT has dropped by about 25%.

Is this security issue with hybrids gonna be a problem?

If it is a problem, then I don't see why it can't be fixed. Just need people to work together and be patient.

don't give them the benefit of the doubt. these guys aren't trying to work with you dude, they are liars. Let them prove otherwise with a successful attack




You miss point bro if someone will atack with eg. double spent whole crypto will be damaged not only POW/POS...
This is bad PR for all coins.
Those guys who will do eg double spend with 100m mint will steal real people money.
Will you be happy with that ? Sometimes you don't know about consequences of such event...

Do you want give press bullets to shoot in crypto and scary people ?
That is why in all people interest is to solve problems and stop whining each-other.
If coin will be fast fixed noone will remember about bug in 2 months...
this is whole puenta just don't be such closed mind.

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olor]log[/url]     
mgburks77
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April 02, 2014, 09:05:16 PM
 #12016

Bitcoin will probably drop further, its bubble has already burst, its down to $490 now, I dont see much tong term stability in POW coins, the mining costs just become too high and look at all the mining farms required to keep it running.
POS is the only way to go and NXT and other similar coins will have some long term future.
Ive got only about 100K mint, and at 20% PA, it is not much for the first year, Its an interesting concept, but once NXT gets more distribution, i think it will take off.
Check out hashrate.org or NXTp00l.org if you want to mine SCRYPT or SHA-256 coins and exchange them for NXT automatically.

Understand exactly what NXT is all about by completely reading their wiki. They have specific objectives that don't necessarily account for the needs of the small stake holder

if you have under 50K or so nxt you will never forge, the chance will exist but it will be so small as to be almost non existent
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April 02, 2014, 09:05:23 PM
 #12017

Quote
static const int CUTOFF_POW_BLOCK = 220000;

if (IsProofOfWork() && nHeight > CUTOFF_POW_BLOCK)
     return DoS(100, error("AcceptBlock() : No proof-of-work allowed anymore (height = %d)", nHeight));

https://github.com/mintcoinproject/mintcoin/commit/dad79713d4172a569238de1b736abfbf307acfbd

Welcome to POS only guys Smiley

That doesnt mean that, mint will keep Hybryd!

read:

http://www.netcoin.io/wiki/Algorithms_for_PoS_Voters_to_Assess_the_Validity_of_PoW_Blocks

We are changing cutoff of blocks that attack, but this parametter need to be adjusted for the network size.

I doesnt need a FORK!!!

Clean solution from DEVS!

Cool man! Also, this whole thing should be good for mint. Some large holders dumped a lot of coin, distributing it into the hands of smaller holders.

171XPWLy36oDmQfMdnPYWHfQgkfRoYGjHd
thisisit
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April 02, 2014, 09:06:11 PM
 #12018

this is already happening a lot.

hackability and exploitability of any coin is bad.

thats why something new, radical, will be invented one day to replace this all.

any coin that makes me a profit.
deadmanwalking
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April 02, 2014, 09:08:02 PM
 #12019

this is already happening a lot.

hackability and exploitability of any coin is bad.

thats why something new, radical, will be invented one day to replace this all.


Do you ever have a positive thought?

171XPWLy36oDmQfMdnPYWHfQgkfRoYGjHd
thisisit
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April 02, 2014, 09:09:04 PM
 #12020

sure Smiley

any coin that makes me a profit.
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