kiklo
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Activity: 1092
Merit: 1000
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January 19, 2015, 09:38:27 AM |
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Someone pass this on to RoboGuyThis attack all stems from the 51% vulnerability for POS Coins, but turns out it is not 51% of the total # of coins needed, but only 51% of coins staking at a given time. Think on this, and let me know what you think. Not a Programmer so bear with me. What if there was a code added to the POS wallet , that if anyone staked at anytime with over 45% of the ( total # of coins X current difficulty%), it either rejects that block or automatically causes that block to split without giving any interest back. (somehow blocking a 51% attack) Therefore either the blocks are always rejected until the difficulty increase or the block strength is half and coin age starts over . Basically we need some code that ends the danger of 51% attacks or we have to raise the difficulty above 51% and keep it there to be safe. 
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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MarSas
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January 19, 2015, 12:22:54 PM |
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Great news. POS coins will get even safer. On the other hand, only the "largest" POW coins are safe since it is easy enough to rent a lot of hashing power to attack the ones with few miners.
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fonzerrellie
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Activity: 1190
Merit: 1000
Kaspa
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January 20, 2015, 02:42:28 AM
Last edit: January 20, 2015, 03:03:58 AM by fonzerrellie |
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Great news. POS coins will get even safer.
This is great news, nice to see crypto is starting to get back on track & testing again for real world adaption Watching altcoin testing for months (years in crypto), seeing only the same things over & over again. If everyone would work together, instead of what has been seen for months on end. Crypto might actually be worth the change for the real world  P.S. Thanks for the blockchain download, tested it & worked flawlessly. This should be a must for all older coins (chains), updating it every week/month would show true support for what is being developed here indeed updating the downloadable blockchain once a month would be awesome for any newcomers to mintcoin or those of us who put it aside while we were constantly distracted (and let down) by coin after coin, only to realize that they already had a better coin doge has a "light" wallet which they say downloads a lot faster cause it just skims the blockchain or something (not sure how it works) PS I think VDO's dev has ditched or at least seems very lacking, I was going to put mint in my sig before I decided to support VDO because I think/thought it was an awesome idea. so now mint gets a home on my sig |
#Expanse $EXP 500 transactions 4 .1 EXP 1st Clone of ETH
WAVES
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MarSas
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January 20, 2015, 07:05:56 AM |
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FLT has Flutterspeed, an option where a new wallet downloads the blockchain from their servers and not via the usual way.
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fonzerrellie
Legendary
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Activity: 1190
Merit: 1000
Kaspa
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January 20, 2015, 10:32:20 PM |
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Someone pass this on to RoboGuyThis attack all stems from the 51% vulnerability for POS Coins, but turns out it is not 51% of the total # of coins needed, but only 51% of coins staking at a given time. Think on this, and let me know what you think. Not a Programmer so bear with me. What if there was a code added to the POS wallet , that if anyone staked at anytime with over 45% of the ( total # of coins X current difficulty%), it either rejects that block or automatically causes that block to split without giving any interest back. (somehow blocking a 51% attack) Therefore either the blocks are always rejected until the difficulty increase or the block strength is half and coin age starts over . Basically we need some code that ends the danger of 51% attacks or we have to raise the difficulty above 51% and keep it there to be safe. edite: that is an interesting idea (i'm not a coder either) I also doubt very much that apexcoin has/had anywhere near the 83+ million network weight that mintcoin has or the wait times for min/max pos age... I think mint is much safer than a lot of coins |
#Expanse $EXP 500 transactions 4 .1 EXP 1st Clone of ETH
WAVES
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Rent_a_Ray
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Activity: 1307
Merit: 1036
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January 20, 2015, 10:45:36 PM |
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Apexcoin was not a big thing, but it shows that it's possible to destroy nearly every POS coin.
If someone spends 10 or 20 BTC to destroy Mint, Zeit, Hobo or whatever. Do you have a good feeling with that knowing?
I'm not. POS is not safe enough and we must find a solution - together.
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fonzerrellie
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Activity: 1190
Merit: 1000
Kaspa
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January 20, 2015, 11:01:47 PM |
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Apexcoin was not a big thing, but it shows that it's possible to destroy nearly every POS coin.
If someone spends 10 or 20 BTC to destroy Mint, Zeit, Hobo or whatever. Do you have a good feeling with that knowing?
I'm not. POS is not safe enough and we must find a solution - together.
we all know our cell phones are pretty much hacked/bugged yet we still use them... lol people are even still trading apex as we speak I think it's great that this discussion is happening and coins will get even stronger. but it's also good for people to know which coin parameters would make a coin an easier target than another for someone who wanted to waste time and money to "kill" someone else's coin. and which coin parameters would make it more difficult for them. if short stake age and no max stake age makes it easier for it to happen then people should know that |
#Expanse $EXP 500 transactions 4 .1 EXP 1st Clone of ETH
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Derek492
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January 21, 2015, 01:05:34 AM |
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If something bad did happen we could just fork from before the issue and make some changes to increase the confirmations to increase the security . not that big of a threat... Its not like an attacker can steal your coins or anything. I wouldn't be too cincirned unless an issue arises we could always adjust mintcoin to make it more secure.
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Stop Mining. Start Minting. Mintcoin [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
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URSAY
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Activity: 1946
Merit: 1000
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January 21, 2015, 02:26:40 PM
Last edit: January 23, 2015, 07:15:42 PM by URSAY |
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Apex is a part of BlockNet which is headed by Dan Metcalf. You don't wanna get involved with anything related to Dan Metcalf. [EDIT] This includes XCurrency, Fibre, Stealth, SonicScrewdriver, Utility, Swift, Librex, and more. Now back to mintcoin...  |
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Derek492
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January 21, 2015, 07:24:07 PM |
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Mintcoin will have an epic rise once all of these dumped coins are swallowed up by longterm mintcoin supporters. Last years pump will look like chump change. Prepare for the rise and rise of mintcoin!
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Stop Mining. Start Minting. Mintcoin [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
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cryptomommy
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January 23, 2015, 01:46:14 PM |
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Mintcoin will have an epic rise once all of these dumped coins are swallowed up by longterm mintcoin supporters. Last years pump will look like chump change. Prepare for the rise and rise of mintcoin!
Welcome back Bitcoin Talk As a community we are constantly discussing ways we can make mintcoin better and what we can do to grow our community. The truth is the majority of us love mintcoin because we love to see that little bubble in the lower right corner of our computers letting us know that we are making money for securing the network. Mintcoin is super fast in confirmations meaning when we need to cash out for whatever reason or want to move into our wallets the transaction will be fast and flawless. Out of curiosity I downloaded my minting transactions and found that my wallet alone has minted a few BTC worth since June. I cant think of a single bank account that has offered that type of incentive. I believe a typical savings account pays 1.2% / maybe? What do you think about our next wallet upgrade should be to include a very simply feature that displays the total amount of mintcoins minted from all time on the home screen. Just a nice little reminder to keep your wallets open and minting. |
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georgidimitrov
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Activity: 101
Merit: 10
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January 24, 2015, 12:59:56 PM |
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What is the current POS interest %? Just saw that my last 61,481 coins block created 527 coins stake which means 0.86% interest. Looked back in my transactions history - same happened with my previous block. Is this normal?
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MarSas
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January 24, 2015, 01:32:31 PM |
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Current interest rate is 15 % per year |
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georgidimitrov
Member
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Activity: 101
Merit: 10
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January 24, 2015, 01:36:32 PM |
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Current interest rate is 15 % per year 15/365*20 which is ~0.82% for the 20 days maturity period Is my math right? |
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MarSas
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January 24, 2015, 03:47:45 PM |
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You are correct.
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mgburks77
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January 24, 2015, 05:05:43 PM |
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Current interest rate is 15 % per year 15/365*20 which is ~0.82% for the 20 days maturity period Is my math right? there 18.25 20 day periods in a year so you also have to divide by 18.25 |
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coolbeans94
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January 25, 2015, 06:07:18 AM |
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Current interest rate is 15 % per year 15/365*20 which is ~0.82% for the 20 days maturity period Is my math right? there 18.25 20 day periods in a year so you also have to divide by 18.25 I don't believe it is based on a 365 day year...I think it based off of 360 day year. (0.15 / 360) * 20 = 0.00833 (or 0.833%) So basically, assuming it minted immediately, your return would be .833%, every 20 days. Another way to look at it is 1.25% per month. (Keep in mind actual results will vary, slightly due to timing of blocks etc., but on average it will be pretty close to this) (Also keep in mind, that in less than a year probably about 9 months (ish) the coin will drop to the 10% annual rate) |
(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.
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Loft
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January 25, 2015, 02:53:09 PM
Last edit: January 25, 2015, 03:45:34 PM by Loft |
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Someone withdraw to my local wallet 21.01 all the coins to this address MtBRpFSrUYDFse9hm9mTBan1merMjVUFtm
Be careful encrypt your wallets!
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MarSas
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January 25, 2015, 03:24:07 PM |
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What happened? I don't understand.
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cryptomommy
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January 25, 2015, 10:04:17 PM |
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Someone withdraw to my local wallet 21.01 all the coins to this address MtBRpFSrUYDFse9hm9mTBan1merMjVUFtm
Be careful encrypt your wallets!
Loft please provide me with more details on this. Our team has a meeting tomorrow night and I would like to make sure we have all of the details. I looked up your address and received a response that it was not valid: http://104.131.179.202/address/MtBRpFSrUYDFse9hm9mTBan1merMjVUFtmCan you please download and send all transactions to this address to cryptomommy@gmail.com as well? |
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