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

[GreekBitcoin]

Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.

I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?

Please dont respond with "no attack much security great coin" comments...

The only sensible attack known right now is getting 51% of the coinsupply. The big problem with this is you'd need a huge amount of capital, and if you break it it'll be lost.

There are some other theories floating around and we are always checking up on those. We are one of the first real PoS-only coins so security matters a lot for us and we are actively checking up on things.

Can you please tell me about some of those other theories? Maybe a post link? thanks anyway for your reply!

[altuinx]

mgburks77 does this disappoint you? https://bitcointalk.org/index.php?topic=551861.0
Why are you here? You know that most people also read other threads, right? Proof or be gone!

[mkasiak]

Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.

I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?

Please dont respond with "no attack much security great coin" comments...

I also like this coin, but I hesitate to buy it. There is this issue with BC stolen from (or better to say "by") Cryptorush. If there are so many coins in thieves´ hands, it could destroy such a small market. I do not want to spread FUD, but I did not notice any update on this topic recently. I will be happy if somebody persuades me that this is not a problem.

ps.
Maybe it is related to this, maybe not, but there is clear market manipulation on Mintpal with big buy or sell walls appearing and disappearing.

[PhilippeStevens]

Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.

I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?

Please dont respond with "no attack much security great coin" comments...

I also like this coin, but I hesitate to buy it. There is this issue with BC stolen from (or better to say "by") Cryptorush. If there are so many coins in thieves´ hands, it could destroy such a small market. I do not want to spread FUD, but I did not notice any update on this topic recently. I will be happy if somebody persuades me that this is not a problem.

ps.
Maybe it is related to this, maybe not, but there is clear market manipulation on Mintpal with big buy or sell walls appearing and disappearing.

Those stolen coins seems to have been dumped a short time after it occurred if I remember right what happened to the market this day
And there is market manipulation in EVERY coins, nothing new ?

[maarx]

Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.

I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?

Please dont respond with "no attack much security great coin" comments...

I also like this coin, but I hesitate to buy it. There is this issue with BC stolen from (or better to say "by") Cryptorush. If there are so many coins in thieves´ hands, it could destroy such a small market. I do not want to spread FUD, but I did not notice any update on this topic recently. I will be happy if somebody persuades me that this is not a problem.

ps.
Maybe it is related to this, maybe not, but there is clear market manipulation on Mintpal with big buy or sell walls appearing and disappearing.

Those stolen coins seems to have been dumped a short time after it occurred if I remember right what happened to the market this day
And there is market manipulation in EVERY coins, nothing new ?

Plus they were stolen by about 25 different people.

[mgburks77]

mgburks77 does this disappoint you? https://bitcointalk.org/index.php?topic=551861.0
Why are you here? You know that most people also read other threads, right? Proof or be gone!

Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.

This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.

 

[JamesR1]

I just want to make a little post to remind people to remove what they don't need on the exchanges off the exchanges with BlackFriday coming.

If people want to post pictures from Game of Thrones I'm all for it, but remember. It will be WAR. The barbarians will be coming and we should be resilient to them trying to ransack the exchanges.

[noerc]

mgburks77 does this disappoint you? https://bitcointalk.org/index.php?topic=551861.0
Why are you here? You know that most people also read other threads, right? Proof or be gone!

Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.

This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.

 

Every decentralized system can be taken over by 51% of the votes within the network .... this is a fundamental property: Something is true, if the majority says its true!

[mgburks77]

mgburks77 does this disappoint you? https://bitcointalk.org/index.php?topic=551861.0
Why are you here? You know that most people also read other threads, right? Proof or be gone!

Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.

This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.

 

Every decentralized system can be taken over by 51% of the votes within the network .... this is a fundamental property: Something is true, if the majority says its true!

Yes, that is my point

[Don007]

mgburks77 does this disappoint you? https://bitcointalk.org/index.php?topic=551861.0
Why are you here? You know that most people also read other threads, right? Proof or be gone!

Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.

This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.

 

Every decentralized system can be taken over by 51% of the votes within the network .... this is a fundamental property: Something is true, if the majority says its true!

Well, looking at filosophy. If the majority votes for something, this doesn't automatically means that that's the best option ^^.

I think many countries face this in their politics; many votes go to partys which are rubbish. ^^

[IconicExpert]

BlackCoin Rewards Card Update!!!

I just finished making a cup of coffee when I received this wonderful email!

-------------------------------------------------------------------------
Hi redacted,

Thank you for the follow up email.

Based on the information you had provided, we can certainly submit your account request to our issuing bank to see if we can get the reward and incentive program approved. This would need to be a non-reloadable co-branded card program based on your card needs.

Does this work?  Would you like to proceed with the account set up process?

Many Thanks,
redacted

-------------------------------------------------------------------------

Yesterday I sent her a follow up email after not hearing back from her, and I also sent her more information on a few idea changes to make it easier to get approved. I am not going to post my idea changes publicly because it has come to my attention that another community is trying to copy our efforts. Imitation is the best form of flattery

This was a major hurdle to overcome because they do not just submit to the issuing bank unless they are fairly confident it will be approved. I want to point out this does not mean we are approved, but the BlackCoin Rewards Card is closer to becoming a reality!

I think I am going to add a little Mint cream in my Black Coffee  

[altuinx]

mgburks77 does this disappoint you? https://bitcointalk.org/index.php?topic=551861.0
Why are you here? You know that most people also read other threads, right? Proof or be gone!

Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.

This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.

 

And who in their right mind will spend 1.25 million dollars to buy half of the blackcoins in existence to perform a 51% attack that will render their investment equal to zero?
This is NOT 'the same exact attack vector', stop spreading FUD over here and show me where exactly do you see 51 attack in the following text posted by rat4:


'Attack I

It is possible to build sequential chain of PoW blocks to confirm a transaction. Only 4 blocks for Mintcoin and 10 for SHACoin.

Is it hard to orphan the chain of PoW blocks?
One PoS block is enough. In both Mintcoin and SHACoin one PoS block may orphan a few millions of PoW blocks.
If at the same time the main chain will get a competing stake, attacker's chain can be enlarged with PoW.
This dramatically increases chance to success in comparison to pure PoW attack.

Ability to confirm a transaction and then orphan confirmations is ability to double spend.

Summary: double spend attack requires 1 PoS block and low hashing power.

Visualization: https://i.imgur.com/Pyrw75q.png

Attack II

Current implementation of stake miner gives up if median time of last blocks is in future.
This temporarily makes the whole network PoW-only and opens well known 51% PoW attack.

Attacker needs only 6 of 11 last blocks.

Successfully tested on Mintcoin: no PoS blocks from 203231 up to 203441, more than 1 hour of real time.'

[mgburks77]

Yes or no, is BC vulnerable to 51% attack or not?

[altuinx]

Yes or no, is BC vulnerable to 51% attack or not?

Are you 12 or something? I'm just doing this to follow your stupid logic and your way of reading between the lines! Tell me how exactly will a 51% POW attack affect blackcoin? If you're still thinking about the answer and haven't yet reached a conclusion I'll be easy on you and answer the question myself. A 51% POW attack will NOT affect blackcoin as it is in a POS-only stage!
BTW what is your involvement here? Do you hold any blackcoins? If not, then are you here because God sent you to protect the "silly" blackcoin investors? I would kindly suggest you crawl back to your cave troll!

LE: Damn it! I'm feeding the troll aren't I?

[mgburks77]

I take it the answer is yes then?

[altuinx]

I take it the answer is yes then?

You should take it somewhere else!

[MuffinMaster]

Yes or no, is BC vulnerable to 51% attack or not?

Are you 12 or something? I'm just doing this to follow your stupid logic and your way of reading between the lines! Tell me how exactly will a 51% POW attack affect blackcoin? If you're still thinking about the answer and haven't yet reached a conclusion I'll be easy on you and answer the question myself. A 51% POW attack will NOT affect blackcoin as it is in a POS-only stage!
BTW what is your involvement here? Do you hold any blackcoins? If not, then are you here because God sent you to protect the "silly" blackcoin investors? I would kindly suggest you crawl back to your cave troll!

LE: Damn it! I'm feeding the troll aren't I?

if someone wanted to buy 51% or more of the coins, its possible, however it would increase the price to the point where BC would be worth 10's if not 100's of millions. anyone holding bc would be be very well off.

money talks. in terms of hashing power, its not possible since its not a PoW coin.

[damiano]

i should wait Saturday, Sunday to buy at 4000
is that right?

Even with the shit of the past week BC "scratched" those 4000! we will see but i think you will wait Looooong for 4000!  

No more 4000, 5000, or even 6000. That boat is gone.

As much as i would love to believe it, I still have douts and think we will touch 4-5 very briefly again within the last week, but it will be brief

[mgburks77]

As I understand it:

all coins are vulnerable to 51% attacks

So the answer is yes and so claiming that another coin is vulnerable to 51% attack is just FUD

That's all I wanted to know

[mellomike]

Just purchased some more BlackCoins! Loving this upward trend BC has been seeing lately. Now its time to HOLD!