[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[maarx]

Good news, the DICE site has been updated and it now includes a FAUCET !

Dice 'em away or withdraw 'em. Up to you!

http://bigblackdice.com

Site still in beta, any bugs/ problems let me know!

[rat4]

However, proof of stake, as implemented in nearly every currency so far, has one fundamental flaw: as one prominent Bitcoin developer put it, “there’s nothing at stake”. The meaning of the statement becomes clear when we attempt to analyze what exactly is going on in the event of an attempted 51% attack, the situation that any kind of proof-of-work like mechanism is intended to prevent. In a 51% attack, an attacker A sends a transaction from A to B, waits for the transaction to be confirmed in block K1 (with parent K), collects a product from B, and then immediately creates another block K2 on top of K – with a transaction sending the same bitcoins but this time from A to A. At that point, there are two blockchains, one from block K1 and another from block K2. If B can add blocks on top of K2 faster than the entire legitimate network can create blocks on top of K1, the K2 blockchain will win – and it will be as if the payment from A to B had never happened. The point of proof of work is to make it take a certain amount of computational power to create a block, so that in order for K2 to outrace K1 B would have to have more computational power than the entire legitimate network combined.

In the case of proof of stake, it doesn’t take computational power to create a work – instead, it takes money. In PPCoin, every “coin” has a chance per second of becoming the lucky coin that has the right to create a new valid block, so the more coins you have the faster you can create new blocks in the long run. Thus, a successful 51% attack, in theory, requires not having more computing power than the legitimate network, but more money than the legitimate network. But here we see the difference between proof of work and proof of stake: in proof of work, a miner can only mine on one fork at a time, so the legitimate network will support the legitimate blockchain and not an attacker’s blockchain. In proof of stake, however, as soon as a fork happens miners will have money in both forks at the same time, and so miners will be able to mine on both forks. In fact, if there is even the slightest chance that the attack will succeed, miners have the incentive to mine on both. If a miner has a large number of coins, the miner will want to oppose attacks to preserve the value of their own coins; in an ecosystem with small miners, however, network security potentially falls apart in a classic public goods problem as no single miner has substantial impact on the result and so every miner will act purely “selfishly”.

There is something at stake. It's value of one's coins. Coin worth something while it's secure. Described scenario makes coin worthless.
This leads to conclusion: if majority stakes on many chains they lose. Do people want to lose their money?
Individuals still can have malicious intentions but can they beat honest majority?

[Jabulon]

Can PoS become orphaned? I had two stakes mined that were not accepted by the network.

Go to your 'transactions' right-click one of the failed stakes, select details...and you'll have your explanation. Yes, it does happen from time to time. Not to worry.

[germsite]

Guys do you think of hiring a pro designer for the logo? I believe it is important on the way to success.

+1 for this suggestion.

It might seem trivial at the current stage of development, but to a certain cross section of users, a product's look and feel is a very powerful trigger. The website looks great, but the logo lets it down (imo). Putting to one side technical arguments, this is where setups like Feather Coin have an edge. If this project is to have the legs that many here are asserting, and if the project has a sudden surge in interest for whatever reasons, when those visitors come knocking, I'm willing to bet that a significant number will react more positively if the whole package has a quality, professional, considered feel to it.

I should point out that, even though I have had a hazy awareness of this growing phenomenon ( alt currencies ) for a little while, it's only in the past month or so that I've taken a real interest in its possibilities, and have become hooked and sold on its potential and viability.

I do a bit of web app development work, have some experience of integrating conventional payment processing systems, and with that hat on, this technology is a no brainer. However, that work brings me into contact with many average punters, for many of whom Paypal is a new and wonderous thing. I work on some great looking sites ( designed by other people ! ), and some monsters, often in similar market spaces. Almost without fail, it is the slicker, more considered sites that bring in the business.

It's a similar process to preparing for a job interview. It's a shit process, and one that most of us have had to go through. Rarely are we lucky enough to be able to go to an interview where to don't need to consider our appearance to some degree ( unless you're applying for the position of SysAdmin down in the bowels somewhere ). If you scrub up a bit, your chances of being taken seriously are just that little bit enhanced, and it's that 'little bit' that might tip the odds in your favour.

I'm not asserting that this need to 'present' is either good or bad. It just is. I was laying awake last night thinking about just this very thing, will upload something for consideration, but am certain that a pro should have a chance to give this very interesting coin the little bit of polish that might just push it where it deserves to go.

[Soepkip]

Guys do you think of hiring a pro designer for the logo? I believe it is important on the way to success.

+1 for this suggestion.

It might seem trivial at the current stage of development, but to a certain cross section of users, a product's look and feel is a very powerful trigger. The website looks great, but the logo lets it down (imo). Putting to one side technical arguments, this is where setups like Feather Coin have an edge. If this project is to have the legs that many here are asserting, and if the project has a sudden surge in interest for whatever reasons, when those visitors come knocking, I'm willing to bet that a significant number will react more positively if the whole package has a quality, professional, considered feel to it.

I should point out that, even though I have had a hazy awareness of this growing phenomenon ( alt currencies ) for a little while, it's only in the past month or so that I've taken a real interest in its possibilities, and have become hooked and sold on its potential and viability.

I do a bit of web app development work, have some experience of integrating conventional payment processing systems, and with that hat on, this technology is a no brainer. However, that work brings me into contact with many average punters, for many of whom Paypal is a new and wonderous thing. I work on some great looking sites ( designed by other people ! ), and some monsters, often in similar market spaces. Almost without fail, it is the slicker, more considered sites that bring in the business.

It's a similar process to preparing for a job interview. It's a shit process, and one that most of us have had to go through. Rarely are we lucky enough to be able to go to an interview where to don't need to consider our appearance to some degree ( unless you're applying for the position of SysAdmin down in the bowels somewhere ). If you scrub up a bit, your chances of being taken seriously are just that little bit enhanced, and it's that 'little bit' that might tip the odds in your favour.

I'm not asserting that this need to 'present' is either good or bad. It just is. I was laying awake last night thinking about just this very thing, will upload something for consideration, but am certain that a pro should have a chance to give this very interesting coin the little bit of polish that might just push it where it deserves to go.

We are looking into this one

[rat4]

Have you read this post? And have there been any counter measures taken work around the problem?

I don't think there's any easy fix not including PoW, and if you make the chain completely PoS you run into the forking issue (that miners can mine both forks of a chain easily and without consequence, so when forks are started they continue to propagate forever).

You can just turn PoW back on and make the block reward 0 at block 10,000.

That's seems sensible. Turn POW back on and set low/zero coin reward.

Mintcoin follows this approach. Just curious, how many PoW blocks are selected for their modifier. I guess zero.

https://bitcointalk.org/index.php?topic=450381.0

"After 5 weeks, the PoW payout will be fixed at 1 coin per block."

Let me reword.
I know that "After 5 weeks, the PoW payout will be fixed at 1 coin per block."
Just curious, how many PoW blocks are currently selected for their stake modifier. I guess zero.

[yannis7777]

Guys do you think of hiring a pro designer for the logo? I believe it is important on the way to success.

+1 for this suggestion.

It might seem trivial at the current stage of development, but to a certain cross section of users, a product's look and feel is a very powerful trigger. The website looks great, but the logo lets it down (imo). Putting to one side technical arguments, this is where setups like Feather Coin have an edge. If this project is to have the legs that many here are asserting, and if the project has a sudden surge in interest for whatever reasons, when those visitors come knocking, I'm willing to bet that a significant number will react more positively if the whole package has a quality, professional, considered feel to it.

I should point out that, even though I have had a hazy awareness of this growing phenomenon ( alt currencies ) for a little while, it's only in the past month or so that I've taken a real interest in its possibilities, and have become hooked and sold on its potential and viability.

I do a bit of web app development work, have some experience of integrating conventional payment processing systems, and with that hat on, this technology is a no brainer. However, that work brings me into contact with many average punters, for many of whom Paypal is a new and wonderous thing. I work on some great looking sites ( designed by other people ! ), and some monsters, often in similar market spaces. Almost without fail, it is the slicker, more considered sites that bring in the business.

It's a similar process to preparing for a job interview. It's a shit process, and one that most of us have had to go through. Rarely are we lucky enough to be able to go to an interview where to don't need to consider our appearance to some degree ( unless you're applying for the position of SysAdmin down in the bowels somewhere ). If you scrub up a bit, your chances of being taken seriously are just that little bit enhanced, and it's that 'little bit' that might tip the odds in your favour.

I'm not asserting that this need to 'present' is either good or bad. It just is. I was laying awake last night thinking about just this very thing, will upload something for consideration, but am certain that a pro should have a chance to give this very interesting coin the little bit of polish that might just push it where it deserves to go.

We are looking into this one

I know but I believe we need something more upmarket guys. Just my two mBC.
Edit: or at least a lot of trimming on that design.

[fox19891989]

so what is the recommended balance to hold to make a good stake?

I have 100K And get around 10-15BC/Day, staking 2-3times between 4-5coins

Really? I have 220 K but just got less than 7 BC per day.. Why? I open my wallet unless when I sleep.

[maarx]

so what is the recommended balance to hold to make a good stake?

I have 100K And get around 10-15BC/Day, staking 2-3times between 4-5coins

Really? I have 220 K but just got less than 7 BC per day.. Why? I open my wallet unless when I sleep.

Everybody gets the same. If you don't open your wallet often, it will just stake with more BC since they matured

I have about 150K and I stake about 5 BC per day. And my wallet is open full- time. So probably Hampuz didn't have his wallet open for a while

[brightlight]

What is going on with the price? If someone decides to sell lower, then it looks like small massive dump.

[maarx]

What is going on with the price? If someone decides to sell lower, then it looks like small massive dump.

a small massive dump?

So far it happened that someone decided to dump 500k under the price level. It went to ~850 sat, and immediately bounced up to ~ 1000 again.

So the floor is probably 1000. The market seems quite strong/ resilient

[BitcoinStacker]

What is going on with the price? If someone decides to sell lower, then it looks like small massive dump.

panic sellers

[brightlight]

What is going on with the price? If someone decides to sell lower, then it looks like small massive dump.

panic sellers

In a BC context - stupidosellers! 

[brightlight]

If I had good adaption to stress I'd use this in my favour. But I'm always afraid of loosing more.

[colinfx]

What is going on with the price? If someone decides to sell lower, then it looks like small massive dump.

To be honest, I cannot find a better coin than BlackCoin to invest my BTC in, really i'm serious.

I will be accumulating on dips, as often as I can. I want to be a blackcoin whale. When the whales arrive to get their value coin they will carry me up with them!



As i've said for days, 1000 sat is the support level at this time. We will not see 500 level again.

[jacek1973]

recent increases were pure speculation, BC market without speculators unfortunately falls down if you do not set solid a wall in 1000 BC rate will slowly falling

Continuous buying only a small amount or a solid wall to stop falls, there is no longer the miners who shed so spoil course will not be inundated

[colinfx]

recent increases were pure speculation, BC market without speculators unfortunately falls down if you do not set solid a wall in 1000 BC rate will slowly falling

Continuous buying only a small amount or a solid wall to stop falls, there is no longer the miners who shed so spoil course will not be inundated

I'm working on price action, am not trying to guess what traders are doing or their intentions via posts or tweets. I trade what I see. The support levels are holding and the fundamentals of blackcoin are strong. It's a game of probabilities and I am personally accumulating.

[Soepkip]

Introducing the BlackCoin Multipool:

http://www.blackcoin.co/mining/want-to-mine-blackcoin-again/

The first-ever multipool to payout in an altcoin!

[MuffinMaster]

What is going on with the price? If someone decides to sell lower, then it looks like small massive dump.

To be honest, I cannot find a better coin than BlackCoin to invest my BTC in, really i'm serious.

I will be accumulating on dips, as often as I can. I want to be a blackcoin whale. When the whales arrive to get their value coin they will carry me up with them!



As i've said for days, 1000 sat is the support level at this time. We will not see 500 level again.

I have been doing the same thing  I've sold all my doge and continue you dump doge for blackcoin.

I'm a medium whale from 730~

[MuffinMaster]

recent increases were pure speculation, BC market without speculators unfortunately falls down if you do not set solid a wall in 1000 BC rate will slowly falling

Continuous buying only a small amount or a solid wall to stop falls, there is no longer the miners who shed so spoil course will not be inundated

I'm working on price action, am not trying to guess what traders are doing or their intentions via posts or tweets. I trade what I see. The support levels are holding and the fundamentals of blackcoin are strong. It's a game of probabilities and I am personally accumulating.

speculators will pile back on once the price starts moving upward again.it should pop to 2k once it breaks 1500, then settle back down to 1300-1600 range. This is only a guess as I have only traded actively mined coins before.

with the bc multipool coming online, if it gets more then 500 mh this could really start some crazy pressure.