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

[hamm3r]

I have an honest question.

To an investor in wall street how can i explain in a single powerpoint slide why Blackcoin has bigger Market Cap than Mintcoin, they have same features. Mint was released 10 days before and is hybrid POW/POS, to an outsider they are practicaly the same

Im conducting investing rounds, i now FAST/POS is the future and i need your side of the story, for an possible investment.

Thanks.

Hi Gonzoucab, Seems the thread got some new trolls 8(
Let me throw a few things out there...
Investing in a coin is more like investing in the community. Little or no community support = dead coin. A quick check would be forums/date thread
started to how many pages posted like here (feb 16 to today = 42days - 565 pages = 13.4 pages a day = quit busy), a random stop to see how many & how active irc is.

Next would be liquidity, you can have a bajillion coins but if its thinly traded or theres already a long line to get out the door it aint gonna work. Again if a bajillion are minted = less rare = harder to make the price rise = less profits.

IMO Blackcoin comes up Aces in all these areas.

Mintcoin has massively high inflation like doge. much higher supply.

Blackcoin has 1% inflation and is currently the lowest coin in the world...

there are many more positives that favor blackcoin but this is really the bottom line for me.

Blackcoin is the gold of the cryptoworld. good for storing wealth for long periods of time, or at least once it is more established.

I see this coint at 5 dollars within 6 months, it is a coin people will notice. It is currently holding a 10 times increase from 2 weeks ago on very good volume. Get in or miss the next leg up...

You are right! blackcoin would make an excellent store of wealth (deflationary, like real world stores of value such as gold/silver/precious metals in general), mintcoin would be an excellent currency for everyday trading and adoption (inflationary, like every "real world" currency). this is why i have invested in both (omg how could i?). +5000 MINT for you!!! shit, wait, you don't have a mintcoin address.. Sorry wrong forum, I saw the word mintcoin and thought I was on that forum again. Do you guys ever stop talking about mintcoin or can we start focusing on blackcoin, please?

qq? Dude asks a question, he gets an answer. Can you please stop whining all over this thread lol. It's getting very tiring to scroll past all that FUD. Yesterday you come in here qq-ing over a 'security-bug' that's been solved long time ago. Now u start qq-ing about other stuff. Go post ur BC FUD in mintcoin topic please; i'd be much obliged.

[stormia]

I have an honest question.

To an investor in wall street how can i explain in a single powerpoint slide why Blackcoin has bigger Market Cap than Mintcoin, they have same features. Mint was released 10 days before and is hybrid POW/POS, to an outsider they are practicaly the same

Im conducting investing rounds, i now FAST/POS is the future and i need your side of the story, for an possible investment.

Thanks.

Hi Gonzoucab, Seems the thread got some new trolls 8(
Let me throw a few things out there...
Investing in a coin is more like investing in the community. Little or no community support = dead coin. A quick check would be forums/date thread
started to how many pages posted like here (feb 16 to today = 42days - 565 pages = 13.4 pages a day = quit busy), a random stop to see how many & how active irc is.

Next would be liquidity, you can have a bajillion coins but if its thinly traded or theres already a long line to get out the door it aint gonna work. Again if a bajillion are minted = less rare = harder to make the price rise = less profits.

IMO Blackcoin comes up Aces in all these areas.

Mintcoin has massively high inflation like doge. much higher supply.

Blackcoin has 1% inflation and is currently the lowest coin in the world...

there are many more positives that favor blackcoin but this is really the bottom line for me.

Blackcoin is the gold of the cryptoworld. good for storing wealth for long periods of time, or at least once it is more established.

I see this coint at 5 dollars within 6 months, it is a coin people will notice. It is currently holding a 10 times increase from 2 weeks ago on very good volume. Get in or miss the next leg up...

You are right! blackcoin would make an excellent store of wealth (deflationary, like real world stores of value such as gold/silver/precious metals in general), mintcoin would be an excellent currency for everyday trading and adoption (inflationary, like every "real world" currency). this is why i have invested in both (omg how could i?). +5000 MINT for you!!! shit, wait, you don't have a mintcoin address.. Sorry wrong forum, I saw the word mintcoin and thought I was on that forum again. Do you guys ever stop talking about mintcoin or can we start focusing on blackcoin, please?

qq? Dude asks a question, he gets an answer. Can you please stop whining all over this thread lol. It's getting very tiring to scroll past all that FUD. Yesterday you come in here qq-ing over a 'security-bug' that's been solved long time ago. Now u start qq-ing about other stuff. Go post ur BC FUD in mintcoin topic please; i'd be much obliged.

Wow. How is anything I said FUD? "You are right! blackcoin would make an excellent store of wealth (deflationary, like real world stores of value such as gold/silver/precious metals in general)" seems pretty positive to me. so saying something positive about another coin as well as BC is considered FUD? Pointing out that people can't stop bashing mintcoin (and therefore can't stop drawing attention to it) is FUD? I am invested in both, so I will promote both. Not trying to spread FUD about either. Also, I am not the one who was qq-ing over a 'security-bug' earlier- please go back and read the thread.

[hamm3r]

Yes, please if anybody here can explain this it would be great for ALL PoS coins.

im still on the fence


can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets

Code:

ss << nStakeModifier;
ss << nTimeBlockFrom << nTxPrevOffset << txPrev.nTime << prevout.n << nTimeTx;
hashProofOfStake = Hash(ss.begin(), ss.end());
if(CBigNum(hashProofOfStake) > bnCoinDayWeight * bnTargetPerCoinDay)
    return false;

im not well enough versed with the code to know what these variable names imply

Pllllease somebody, this is important for every PoS coin out there.

Wow. How is anything I said FUD? "You are right! blackcoin would make an excellent store of wealth (deflationary, like real world stores of value such as gold/silver/precious metals in general)" seems pretty positive to me. so saying something positive about another coin as well as BC is considered FUD? Pointing out that people can't stop bashing mintcoin (and therefore can't stop drawing attention to it) is FUD? I am invested in both, so I will promote both. Not trying to spread FUD about either. Also, I am not the one who was qq-ing over a 'security-bug' earlier- please go back and read the thread.

ur not? ok.

[berone]

I'm new in the Alt coins and discovered the BlackCoin, looks really promising so bought myself some coins today.
Keep up the good work and hopefully this will be a very big succes.
This is a bright future!
Worth the investment!

[alison03]

I have both mintcoin and blackcoin (and a little of many other coins) and read both of these threads throughout the day. Just saying that there is constant references in both, Stormia. Just on the last page on the mint thread someone posted about how bc volume was dying because they know where the real value is and if there's a 14 sat rise it will overtake bc. Then the next post was about how mint's staking was so much better etc. Every few pages back there's more comparisons.

I'm new to altcoins (heck cryptocurrencies in general) but all the bickering and hostility just seems so unnecessary.  

[stormia]

Yes, please if anybody here can explain this it would be great for ALL PoS coins.

im still on the fence


can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets

Code:

ss << nStakeModifier;
ss << nTimeBlockFrom << nTxPrevOffset << txPrev.nTime << prevout.n << nTimeTx;
hashProofOfStake = Hash(ss.begin(), ss.end());
if(CBigNum(hashProofOfStake) > bnCoinDayWeight * bnTargetPerCoinDay)
    return false;

im not well enough versed with the code to know what these variable names imply

Pllllease somebody, this is important for every PoS coin out there.

ur not? ok.

Uhm, yeah I asked a question and as soon as members of this community answered it I said "thanks" and moved on. Sorry for pointing out a possible security flaw for PoS coins that somebody brought to my attention? I didn't continue to spread any FUD about the security flaw, I was pleased with the answer people from the community provided (why don't you provide those quotes?). There was another person on here earlier who was continually asking about a 'security flaw' without providing any specifics and who didn't stop asking even after people responded and that wasn't me.

[hamm3r]

I have both mintcoin and blackcoin (and a little of many other coins) and read both of these threads throughout the day. Just saying that there is constant references in both, Stormia. Just on the last page on the mint thread someone posted about how bc volume was dying because they know where the real value is and if there's a 14 sat rise it will overtake bc. Then the next post was about how mint's staking was so much better etc. Every few pages back there's more comparisons.

I'm new to altcoins (heck cryptocurrencies in general) but all the bickering and hostility just seems so unnecessary.  

Couldn't agree more, thanks.

[stormia]

I have both mintcoin and blackcoin (and a little of many other coins) and read both of these threads throughout the day. Just saying that there is constant references in both, Stormia. Just on the last page on the mint thread someone posted about how bc volume was dying because they know where the real value is and if there's a 14 sat rise it will overtake bc. Then the next post was about how mint's staking was so much better etc. Every few pages back there's more comparisons.

I'm new to altcoins (heck cryptocurrencies in general) but all the bickering and hostility just seems so unnecessary.  

Couldn't agree more, thanks.

really? because the way you shot down my post seems to imply otherwise.

oh by the way here is the continuation of the conversation you quoted from me, where I thank the community for the response and move on:

im still on the fence


can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets

Code:

ss << nStakeModifier;
ss << nTimeBlockFrom << nTxPrevOffset << txPrev.nTime << prevout.n << nTimeTx;
hashProofOfStake = Hash(ss.begin(), ss.end());
if(CBigNum(hashProofOfStake) > bnCoinDayWeight * bnTargetPerCoinDay)
    return false;

im not well enough versed with the code to know what these variable names imply

i have discovered a flaw with current PoS implementation

you can easily do a 51% attack with PoS blocks without needing large holdings

since PoS blocks are generated on a coin age basis, you could create TXO's delayed by a time offset at the minimum TXO cost for a future attack period

so after creating 10000 TXO of 1 MINT separated by 0.5 seconds to make sure 60 consecutive blocks are generated at repeated interval by your wallet 20 days in the future, the attack would last 1 hour and 40 minutes

enough to put the security and function of a coin in question



couple that with the fact the difficulty calculation includes PoS blocks, that would mean difficulty would jump to stratospheric levels making it impossible to mine PoW blocks

are people really not concerned about this?


YOU CAN 51% ATTACK ANY POS COIN WITHOUT THE NEED FOR 51% OF SUPPLY OR ANY PoW HASHRATE AT ALL

Hi all. Just thought I'd share some of the joy we've been dealing with on the Mintcoin thread. Have a good night.

Check our code i'd say

No explanation? I'm not computer savvy enough to get the answer from the code myself so I was hoping somebody who knows the blackcoin code could explain. It seems that this type of attack is prevented by hybrid PoW/PoS since the PoW blocks have a different and independent difficulty algorithm from the PoS blocks, and you cannot predict with any certainty what the next block in the chain will be (trying to build x consecutive PoS blocks to form an attack with would be interrupted by the generation of a valid PoW block). If that is true, I still don't understand how a pure PoS coin would deal with this. I've got a lot of money invested in this coin and other PoS coins so I would like to know my money is safe, and I would appreciate a concrete answer other than "your money is safe" or "we've figured out how to prevent that" because I'm the type of person that only trusts something if I understand why.

This flaw was addressed by the author of PoS, Sunny King, earlier this year:

Official release build is now available http://www.ppcoin.org/ (via sourceforge)

What's in 0.3.0 release:

Stake generation protocol upgrade (protocol switch March 20th)
Qt UI support
Fix compatibility with vanitygen (note: private keys dumped in v0.2 is no longer importable into v0.3.0, must dump again from v0.3.0 client)
Miscellaneous bug fixes and improvements

The protocol upgrade in 0.3.0 includes a new algorithm to derive proof-of-stake hash modifier, the entity that scrambles computation for stake owners, which replaces the current proof-of-stake difficulty used as modifier in 0.2 protocol. The design was started late September last year, when I first began to realize the issues with using difficulty as modifier. Honorary mention also goes to Jutarul, who independently discovered and verified an issue with using difficulty as modifier and published on bitcointalk in December last year, while successfully executed a demo attack on the block chain. Other changes in the protocol include starting hash weight from 0 at the 30-day mininum age, and requirement that coinstake timestamp must equal block timestamp. Overall 0.3 protocol should significantly strengthen the proof-of-stake protection and resolve the current known vulnerabilities.

My sincere appreciation to co-contributors of 0.3.0 release:

Robert VanHazinga of Hartland PC (dreamwatcher) for the vanitygen compatibility fix
Jutarul for demonstrating stake generation vulnerability
EskimoBob for reporting issue fixed in 0.3.0

+1 thank you for quick and helpful response

[MuffinMaster]

PSA this is the Blackcoin thread for all those who have trouble with reading.

I understand you're bagholders in other coins, but trying to dump your shit on us in the blackcoin thread is in poor taste.

[stormia]

PSA this is the Blackcoin thread for all those who have trouble with reading.

I understand you're bagholders in other coins, but trying to dump your shit on us in the blackcoin thread is in poor taste.

Trying to say I am dumping shit on your thread is in poor taste.. my lord.. you guys are so defensive. And that is pretty much entirely my point, if this is the blackcoin thread- stop talking about mintcoin. the only time i talk about mintcoin is when somebody here says something untrue or uncalled for about mintcoin...

so you are saying this is FUD:

"You are right! blackcoin would make an excellent store of wealth (deflationary, like real world stores of value such as gold/silver/precious metals in general), mintcoin would be an excellent currency for everyday trading and adoption (inflationary, like every "real world" currency). this is why i have invested in both (omg how could i?). +5000 MINT for you!!! shit, wait, you don't have a mintcoin address.. Sorry wrong forum, I saw the word mintcoin and thought I was on that forum again. Do you guys ever stop talking about mintcoin or can we start focusing on blackcoin, please? "

You are saying complimenting BC is FUD? Or just because I compliment another coin too, it is now FUD? Because I point out exactly what you just pointed out (that this is a blackcoin thread and mintcoin should not be mentioned here so much) it is FUD?

[hamm3r]

PSA this is the Blackcoin thread for all those who have trouble with reading.

I understand you're bagholders in other coins, but trying to dump your shit on us in the blackcoin thread is in poor taste.

Trying to say I am dumping shit on your thread is in poor taste.. my lord.. you guys are so defensive. And that is pretty much entirely my point, if this is the blackcoin thread- stop talking about mintcoin. the only time i talk about mintcoin is when somebody here says something untrue or uncalled for about mintcoin...

I didn't quote those because they were besides the point.. And i intend not to explain what the point was again. Make love and peace, not war. It's useless anyway; people that are going to invest in one or another coin are likely to do a little backgroundcheck on their future investments. Based on that, they will likely form an opinion on wether or not to buy a coin. At least i did.

Therefore i suggest that before you quote others about irrelevant or allready solved problems, you do some investigating on wether or not ur quoting for truth or just to cause a stirr.

[stormia]

PSA this is the Blackcoin thread for all those who have trouble with reading.

I understand you're bagholders in other coins, but trying to dump your shit on us in the blackcoin thread is in poor taste.

Trying to say I am dumping shit on your thread is in poor taste.. my lord.. you guys are so defensive. And that is pretty much entirely my point, if this is the blackcoin thread- stop talking about mintcoin. the only time i talk about mintcoin is when somebody here says something untrue or uncalled for about mintcoin...

I didn't quote those because they were besides the point.. And i intend not to explain what the point was again. Make love and peace, not war. It's useless anyway; people that are going to invest in one or another coin are likely to do a little backgroundcheck on their future investments. Based on that, they will likely form an opinion on wether or not to buy a coin. At least i did.

Therefore i suggest that before you quote others about irrelevant or allready solved problems, you do some investigating on wether or not ur quoting for truth or just to cause a stirr.

I understand, but when I quoted this problem:

im still on the fence


can someone explain how this stops someone from generating lots of PoS blocks 20 days in the future from a bunch of TX's with small interval, whether through one or multiple wallets

Code:

ss << nStakeModifier;
ss << nTimeBlockFrom << nTxPrevOffset << txPrev.nTime << prevout.n << nTimeTx;
hashProofOfStake = Hash(ss.begin(), ss.end());
if(CBigNum(hashProofOfStake) > bnCoinDayWeight * bnTargetPerCoinDay)
    return false;

im not well enough versed with the code to know what these variable names imply

It was unsolved and I was honestly trying to find an answer. When somebody from this community answered me, I thanked them and did not continue to talk about it.

edit: you are right it was already solved but i was not aware of this and did not know how to find out this information other than asking around. if you look through my posts around that time you will see i asked this question on nearly every PoS coin.. Ghostcoin, peercoin, eccoin, it was already posted to mintcoin and zeitcoin, etc... I was looking for an answer and that was all. This thread was the one who provided the link to the answer so I was actually quite thankful.

edit edit: you probably won't see those posts of mine on eccoin because the dev there (hostmaster) has moderated the subject and saw the question as too much of a threat, I suppose that is analogous to the response I am getting here now for having posted this question... Sorry.

[burningzoul]

  multipool idea.

[darcius]

PSA this is the Blackcoin thread for all those who have trouble with reading.

I understand you're bagholders in other coins, but trying to dump your shit on us in the blackcoin thread is in poor taste.

Couldn't agree more, lets keep this on topic people. In other news, pointed my 5.5mhs at blackcoinpool.com for the last 2 days with great success, the beta looks like it's doing really well. It's going to be great to see other BC multipools get off the ground in the coming months, several of these pools will do wonders for BC's trade volume on a daily basis. Mine now and sit on the coins for a while seems to be a recipe for success.

[CatKiwi]

I have just released 60K of my Blackcoin holdings - will sell off the rest in 10 minutes. Just wanted to give a heads up to the decent folk who have their eyes glued to the thread MINT is going to be going back up to around 20-22 shortly and I need to get on that bandwagon before it leaves

[mrbenjie]

When is the android wallet available?

[Fraxinus]

I have just released 60K of my Blackcoin holdings - will sell off the rest in 10 minutes. Just wanted to give a heads up to the decent folk who have their eyes glued to the thread MINT is going to be going back up to around 20-22 shortly and I need to get on that bandwagon before it leaves

What happened to you?

In beginning of blackcoin you were always talking about how good blackcoin is.
Now i only see negative comments all the way.
Did you sell too soon and want to get back in?
You are trying to manipulate thats for certain.

[flinchy]

Low volume

no trading for me

BUT

stable price at 6500sat

and cheap buying for blackcoinpool, i'm up to about 2k blackcoin mined, so pretty happy.

[CatKiwi]

I have just released 60K of my Blackcoin holdings - will sell off the rest in 10 minutes. Just wanted to give a heads up to the decent folk who have their eyes glued to the thread MINT is going to be going back up to around 20-22 shortly and I need to get on that bandwagon before it leaves

What happened to you?

In beginning of blackcoin you were always talking about how good blackcoin is.
Now i only see negative comments all the way.
Did you sell too soon and want to get back in?
You are trying to manipulate thats for certain.

No, I held to long friend! I have watched it hit 9000 with 95,000 in hand and then steady decline in both price and volume each day. Had to draw the line here and let it go while I still have a 300% ROI. It was good (and profitable) fun but I don't see things going anywhere here. Lots of market manipulation, an order book full of fake '1337' buy orders to make you think there is more buy support than there really is, and a decline in volume from 'real' traders. It's a nice coin with a decent community but personally, I can't see us going up much further in the near future, conversely I see MINT has stabilized and is ready to start heading back up.

That's all it is really, just see a better opportunity to invest in MINT at this time Good luck to everyone though

[Jabulon]

A Modest Proposal

I have been mining on the Blackcoin pool since it's inception (back in 'radio-days' as it were), and with great satisfaction. The ability to to gain equity in a coin while simultaneously supporting its value is just outstanding. The pool hashrate stats and number of active workers are just phenomenal.

Now that this rocket has launched into orbit, I'd like to toss out an idea, one that may not be immediately popular but which might enhance the long-term value of the pool. And it is this: To raise (yes, RAISE) the pool fee from 2%, to whatever degree necessary for making miner's immediate-term profitability no greater than, and perhaps slightly less, than other mining options. The surplus percentage could then go into a transparent wallet 'Development Fund', separate from the existing community donations-process.

Doing this will not only enhance our project-support, but also shield the pool from abuse. Think about it: Let's say that, through its increasing sophistication and success it becomes a superior option for any miner to mine on. It would then naturally attract a subset of miners looking to immediately dump their proceeds back in the market, which runs counter to the purpose of the pool. Adding a mandatory Blackcoin-support surcharge would nix that.

I think the 'special wallet' could be deployed by a community voting system designed with transparency, fairness, and intelligence.

I'd greatly appreciate any feedback or thoughts from the community on this. Thanks!