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

[virtualfaqs]

Sorry for a wall of 'literary diarrhea' as it might seem... but I just wanted to put this out there as food for (more cautious) thought and rhetoric as many, many more eyes are likely to be upon us in the future.  BC is different and BETTER... let's try to act like we are.

Well said!

Today has been exhausting. I had to hedge my risk of BTC collapsing. But BC is still connected to BTC price. Until an exchange can handle massive volume and fiat. Oh the headaches. But the price of BC held and that is awesome! Good work everyone.  We're still getting closer to 10,000!

[1714855617]

1714855617

[1714855617]

1714855617

[1714855617]

1714855617

[instacalm]

FINALLY! A wallet that doesn't crash on my OSX 10.7! Thanks InstaCash. (BTW, Instacash sounds like a loan/check cashing type of biz lol)  

My pleasure mate!

Actually I don't like this username myself, I randomly chose it back when I signed up here at Bitcointalk in November. However I kept posting with it and now I can't change the name and theymos (admin) never replies to my requests. Hah. I actually prefer and mostly use another one.

[Jabulon]

Oh god, more fucking good news? How much can a guy take in one day!

Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).

So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!

Kudos, thats the way of increasing the value of the coin.

nice!

It's just the inevitable playing out. Here's how it works for a coin like Blackcoin:

1. Miners hit the coin because the launch looks sexy.
1.1 Whale-miners hit the coin because they foresee a good quick megadump.
1.2 Early investors AND whales buy in because the situation looks juicier and juicier for their respective goals.
1.3 Whales/whale-miners dump = distribution. Investor-base grows, whale-base diminishes.

2. Big exchanges jump on because the market is hoppin.
2.1 More whale-dump, more distribution. New crypto-people learn about the coin.
2.2 FUD hits unprecedented levels.
2.3 Word travels outside crypto = New investors, and new speculators. (this level started kicking-in during the last few days)

3. Coin starts ramping up merchant adoption, due to community outreach.
3.1  More investors and speculators.
3.2 The coin get's major coverage in news media. Like a big article on Coindesk and beyond.
3.3 The coin becomes a worldwide obsession (pulls a Bitcoin)

4. Merchants start jumping on of their own accord, seeking a piece of the action. (we get our first Overstock.com).
4.1 Much turmoil, much volatility, much scandal.
4.2 Merchants flood in, merchant services for coin grow exponentially.

5. Governments sort out their shit and catch up with reality.

6.  Coin becomes part of daily life - a household word.

[SackofBits]

Oh god, more fucking good news? How much can a guy take in one day!

Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).

So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!

Kudos, thats the way of increasing the value of the coin.

nice!

It's just the inevitable playing out. Here's how it works for a coin like Blackcoin:

1. Miners hit the coin because the launch looks sexy.
1.1 Whale-miners hit the coin because they foresee a good quick megadump.
1.2 Early investors AND whales buy in because the situation looks juicier and juicier for their respective goals.
1.3 Whales/whale-miners dump = distribution. Investor-base grows, whale-base diminishes.

2. Big exchanges jump on because the market is hoppin.
2.1 More whale-dump, more distribution. New crypto-people learn about the coin.
2.2 FUD hits unprecedented levels.
2.3 Word travels outside crypto = New investors, and new speculators. (this level started kicking-in during the last few days)

3. Coin starts ramping up merchant adoption, due to community outreach.
3.1  More investors and speculators.
3.2 The coin get's major coverage in news media. Like a big article on Coindesk and beyond.
3.3 The coin becomes a worldwide obsession (pulls a Bitcoin)

4. Merchants start jumping on of their own accord, seeking a piece of the action. (we get our first Overstock.com).
4.1 Much turmoil, much volatility, much scandal.
4.2 Merchants flood in, merchant services for coin grow exponentially.

5. Governments sort out their shit and catch up with reality.

6.  Coin becomes part of daily life - a household word.

is that how it works?

[Jabulon]

Oh god, more fucking good news? How much can a guy take in one day!

Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).

So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!

Kudos, thats the way of increasing the value of the coin.

nice!

It's just the inevitable playing out. Here's how it works for a coin like Blackcoin:

1. Miners hit the coin because the launch looks sexy.
1.1 Whale-miners hit the coin because they foresee a good quick megadump.
1.2 Early investors AND whales buy in because the situation looks juicier and juicier for their respective goals.
1.3 Whales/whale-miners dump = distribution. Investor-base grows, whale-base diminishes.

2. Big exchanges jump on because the market is hoppin.
2.1 More whale-dump, more distribution. New crypto-people learn about the coin.
2.2 FUD hits unprecedented levels.
2.3 Word travels outside crypto = New investors, and new speculators. (this level started kicking-in during the last few days)

3. Coin starts ramping up merchant adoption, due to community outreach.
3.1  More investors and speculators.
3.2 The coin get's major coverage in news media. Like a big article on Coindesk and beyond.
3.3 The coin becomes a worldwide obsession (pulls a Bitcoin)

4. Merchants start jumping on of their own accord, seeking a piece of the action. (we get our first Overstock.com).
4.1 Much turmoil, much volatility, much scandal.
4.2 Merchants flood in, merchant services for coin grow exponentially.

5. Governments sort out their shit and catch up with reality.

6.  Coin becomes part of daily life - a household word.

is that how it works?

Yup. It's a rough sketch, with a bit of humor thrown in. But yes.

[Zackgeno96]

Oh god, more fucking good news? How much can a guy take in one day!

Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).

So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!

Kudos, thats the way of increasing the value of the coin.

nice!

It's just the inevitable playing out. Here's how it works for a coin like Blackcoin:

1. Miners hit the coin because the launch looks sexy.
1.1 Whale-miners hit the coin because they foresee a good quick megadump.
1.2 Early investors AND whales buy in because the situation looks juicier and juicier for their respective goals.
1.3 Whales/whale-miners dump = distribution. Investor-base grows, whale-base diminishes.

2. Big exchanges jump on because the market is hoppin.
2.1 More whale-dump, more distribution. New crypto-people learn about the coin.
2.2 FUD hits unprecedented levels.
2.3 Word travels outside crypto = New investors, and new speculators. (this level started kicking-in during the last few days)

3. Coin starts ramping up merchant adoption, due to community outreach.
3.1  More investors and speculators.
3.2 The coin get's major coverage in news media. Like a big article on Coindesk and beyond.
3.3 The coin becomes a worldwide obsession (pulls a Bitcoin)

4. Merchants start jumping on of their own accord, seeking a piece of the action. (we get our first Overstock.com).
4.1 Much turmoil, much volatility, much scandal.
4.2 Merchants flood in, merchant services for coin grow exponentially.

5. Governments sort out their shit and catch up with reality.

6.  Coin becomes part of daily life - a household word.

is that how it works?

Yup. It's a rough sketch, with a bit of humor thrown in. But yes.

haha, nice one 

[noerc]

Oh god, more fucking good news? How much can a guy take in one day!

Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).

So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!

Kudos, thats the way of increasing the value of the coin.

nice!

It's just the inevitable playing out. Here's how it works for a coin like Blackcoin:

1. Miners hit the coin because the launch looks sexy.
1.1 Whale-miners hit the coin because they foresee a good quick megadump.
1.2 Early investors AND whales buy in because the situation looks juicier and juicier for their respective goals.
1.3 Whales/whale-miners dump = distribution. Investor-base grows, whale-base diminishes.

2. Big exchanges jump on because the market is hoppin.
2.1 More whale-dump, more distribution. New crypto-people learn about the coin.
2.2 FUD hits unprecedented levels.
2.3 Word travels outside crypto = New investors, and new speculators. (this level started kicking-in during the last few days)

3. Coin starts ramping up merchant adoption, due to community outreach.
3.1  More investors and speculators.
3.2 The coin get's major coverage in news media. Like a big article on Coindesk and beyond.
3.3 The coin becomes a worldwide obsession (pulls a Bitcoin)

4. Merchants start jumping on of their own accord, seeking a piece of the action. (we get our first Overstock.com).
4.1 Much turmoil, much volatility, much scandal.
4.2 Merchants flood in, merchant services for coin grow exponentially.

5. Governments sort out their shit and catch up with reality.

6.  Coin becomes part of daily life - a household word.

is that how it works?

Yup. It's a rough sketch, with a bit of humor thrown in. But yes.

haha, nice one  

Really nice ... so step 6 on Blackfriday?

[IconicExpert]

Wow, tons of buzz and a bit of noise over the last several hours.  Just wanted to weigh in on a couple things I've seen...

First of all @IconicExpert : I recognize that PR (& SEO for that matter) are an iterative process and not a "magic profit-bomb" like some apparently believe.  I respect your contributions and I donated to the cause.  I also (as a developer) understand how difficult it is to take criticism on occasion and how lack of sleep can make this much worse.  I blame some of that for a bit of the overstatement on other people's part, however you likewise need to shoulder some of that blame (for the same reasons).  You can't represent 'assurances' of artificial market inflation, while subsequently denying any impact of other investors, the multipool(s), the dev himself, and Soepkip's near constant tweeting and 'investor relations work' via IRC, etc. and then call sell volume at an all time high on the only exchange with significant liquidity a conspiracy.  Or at least you can't do that and not expect some people to take pause at your motivations - or ego.

You've done well.  Enjoy that fact, and enjoy that you've received donations now and will undoubtedly continue to in the future as you continue to generate interest and positive PR for the coin.  Also understand that cryptos, as well as investing and the "PR game" are frequently home to hotly contested points of view - not all of which will align with your own.

I am a long time holder of BC, and while not a 'whale' I frequently have what could be considered 'sell walls' in this micro-market, simply for the purpose of taking profits at the top of a faster than normal increase - so I can buy even more BC when the price invariably settles.  If I didn't believe in BC at all, I could dump everything and represent a 50+ BTC sell wall - and I'm a tiny fish in reality.  Traders trade... it's what we do, and (hopefully) almost always sell for the highest price currently reached and buy for nearly the bottom level of support.

I am always trying to accumulate more BC - so in order to do that I'm certainly not above placing a 'safe' ~300K BC sell wall (temporarily) in order to buy 50-60K BC at a level several hundred satoshis lower.  And like I said - I'm small potatoes.

If real investors buy in to this coin as something other than a savings account (which as even the mighty BTC has proven is suicide for your net worth) - expect to see some real fireworks... because anytime there's a 200BTC buy today... you can bet there will be a 50-100BTC sell happening a day or so later (if not later that same trading period).

This is natural and part of the OTC market - which is essentially what cryptos have become for many investors.  So keep your head high, and let much of the criticism slide off your back... it's only likely to get worse as BC builds momentum and more and more people realize that the price of entry has become too expensive for them to profit significantly.

As far as the rest of the conversation - and this is just my opinion - but we really need to curb the amount of denigration directed at other coins... BC is better - far better - so if FUD is presented that directly attacks BC either technically or fundamentally... respond directly and with disputing facts only.  If the FUD is emotional however, just ignore it.  Most investors will be unlikely to actually read through much of this, but on the off chance that they consider this thread part of their due diligence... it's better to seem cool and collected (because this equals confidence) than to seem like children or religious zealots.

And to everyone - especially IconicExpert, Soepkip, Blade87, the BlackCoinPool team, and certainly not least of all rat4 - thank you for all your hard work... and all the work you'll undoubtedly be doing in the future.

Sorry for a wall of 'literary diarrhea' as it might seem... but I just wanted to put this out there as food for (more cautious) thought and rhetoric as many, many more eyes are likely to be upon us in the future.  BC is different and BETTER... let's try to act like we are.

Thank you for your comments and supporting the project. I agree with you and I will admit I underestimated the amount of people watching this thread. By setting a 10,000 goal everyone knew that there will be buyers at that level eager to buy coins. I would like to point out we did meet our goal, but unfortunately not on the exchange that matters most to us. If I could go back in time I would definitely not set a goal. However, I personally do not think yesterday was over hyped or under delivered. The hype got us to an all time high, and the press release did exactly what it was suppose to do, create buzz. A day after the release we are still trading above 9000, the first time we ever traded this high for 3 days straight. I cannot speak for anyone else, but any assurances I personally made were delivered on.

I can take criticism when presented rationally as you have just done, but I will be the first to admit I get frustrated when someone posts blatant lies. (Yes I know it is the internet) At the end of the day we are all suppose to be on the same team working to make this coin better. I do not expect everyone to always "get along" or agree, that is not how life works. However, I do expect some kind of common courtesy when someone is taking time out their personal life to help. What worries me is very talented people will be apprehensive getting off the sidelines and help because they will not want to be attacked and/or criticized for their work. I jumped in and helped to try and motivate others to come up with new ideas and pitch in.

And for the record what you wrote wasn't "literary diarrhea", it was well said....

[kana]

I have update my blog with a short run over of what happened to day. Not much in depth stuff because so much has happened. http://blackcoinreport.blogspot.com/2014/04/blackout-wednesday-overview.html. As Always feel free to give any kind of feed back.

Also I have not forgotten about project supernova or the other write ups I need to do just trying to find free time.

[dominikf]

Are there people that already have the latest wallet update 1.0.5.1? I'm having some error when starting it. After I try a second time the wallet starts but it stays out of sync hmm?

edit: After a restart of my PC the problem seems fixed

[digicidal]

Thank you for your comments and supporting the project. I agree with you and I will admit I underestimated the amount of people watching this thread. By setting a 10,000 goal everyone knew that there will be buyers at that level eager to buy coins. I would like to point out we did meet our goal, but unfortunately not on the exchange that matters most to us. If I could go back in time I would definitely not set a goal. However, I personally do not think yesterday was over hyped or under delivered. The hype got us to an all time high, and the press release did exactly what it was suppose to do, create buzz. A day after the release we are still trading above 9000, the first time we ever traded this high for 3 days straight. I cannot speak for anyone else, but any assurances I personally made were delivered on.

I can take criticism when presented rationally as you have just done, but I will be the first to admit I get frustrated when someone posts blatant lies. (Yes I know it is the internet) At the end of the day we are all suppose to be on the same team working to make this coin better. I do not expect everyone to always "get along" or agree, that is not how life works. However, I do expect some kind of common courtesy when someone is taking time out their personal life to help. What worries me is very talented people will be apprehensive getting off the sidelines and help because they will not want to be attacked and/or criticized for their work. I jumped in and helped to try and motivate others to come up with new ideas and pitch in.

And for the record what you wrote wasn't "literary diarrhea", it was well said....

Thanks.  And for the record I fully understand getting irritated at many of the comments from the peanut gallery as well. I'm embarrassed to admit it, but I've found myself sucked into flame wars on more than one occasion.  In every case I wound up frustrated and angry, regardless of whether or not I was 'victorious'.  The old joke about arguing over the Internet being like the Special Olympics still holds true I'm afraid.  However, as BC matures and more and more seasoned investors and entrepreneurs come on board, I expect (read "hope") that much of the noise of late will dissipate rapidly.

The Internet is full of "expert opinions" - many of which are disseminated from the basements of the author's parents' house.    Although crypto currencies (especially BC which is barely 2 months old) is definitely a young man's game, in many aspects - there are some of us older guys involved as well.  I agree that it is possible that some people might be discouraged from participation by the FUD that occasionally gets thrown about... but I also believe that the opportunities presented by both the coin, and the vast majority of the community backing it, will win the day ultimately.  For most people, the opinions of others are either entertaining, enraging or (occasionally) thought-provoking and useful, but it's what your own beliefs/logic dictate that results in or prevents action.  Trolls and dissenters can not change that in someone who's actually done their research.

Keep your head up and above all the bullshit... you don't want to get dragged down there with them!  One day we'll all look back on these growing pains and laugh... but that doesn't mean there won't be more of them around the next bend in the road.

Take a minute to just sit back and smile... you've earned it!

[TheGift73]

Oh god, more fucking good news? How much can a guy take in one day!

Yes, folks, this just in: I spent last night and most of this afternoon talking with a young entrepreneur operating a health spa and personal-care shop in Ireland. The conversation started with some Bitcoin 101, then Altcoin, then Blackcoin. By the time I was half-way through Blackcoin 101, she was pretty much in like Flynn. And then, voila, Coinkite hit and double-cinched it. I installed her first wallet via Teamviewer and sent her a welcome gift of her first crypto ever. Her products are classy, all-natural creams, lotions, potions, aromatherapeutic candles and soaps (or should I say 'soeps'), and the like. In the days ahead I will bring her into the forum for an introduction to the community. We are still working on an altcoin ramp-up approach best suited to her product-line and clientele. She gave me a heads-up that her candle-business is booming, so that may be the initial testing-ground for BC. And by the way, she happily agreed to start with Blackcoin rather than Bitcoin, although she'll be integrating Bitcoin eventually. And she had no problem envisioning that being it, BTC & BC. (Sayonara Litecoin, we don't need ya no more).

So stay tuned, think about what kind of candles your girlfriend likes, and line up to make some purchases!

Kudos, thats the way of increasing the value of the coin.

nice!

It's just the inevitable playing out. Here's how it works for a coin like Blackcoin:

1. Miners hit the coin because the launch looks sexy.
1.1 Whale-miners hit the coin because they foresee a good quick megadump.
1.2 Early investors AND whales buy in because the situation looks juicier and juicier for their respective goals.
1.3 Whales/whale-miners dump = distribution. Investor-base grows, whale-base diminishes.

2. Big exchanges jump on because the market is hoppin.
2.1 More whale-dump, more distribution. New crypto-people learn about the coin.
2.2 FUD hits unprecedented levels.
2.3 Word travels outside crypto = New investors, and new speculators. (this level started kicking-in during the last few days)

3. Coin starts ramping up merchant adoption, due to community outreach.
3.1  More investors and speculators.
3.2 The coin get's major coverage in news media. Like a big article on Coindesk and beyond.
3.3 The coin becomes a worldwide obsession (pulls a Bitcoin)

4. Merchants start jumping on of their own accord, seeking a piece of the action. (we get our first Overstock.com).
4.1 Much turmoil, much volatility, much scandal.
4.2 Merchants flood in, merchant services for coin grow exponentially.

5. Governments sort out their shit and catch up with reality.

6.  Coin becomes part of daily life - a household word.

Point 5 is perfect.

[IconicExpert]

Thanks.  And for the record I fully understand getting irritated at many of the comments from the peanut gallery as well. I'm embarrassed to admit it, but I've found myself sucked into flame wars on more than one occasion.  In every case I wound up frustrated and angry, regardless of whether or not I was 'victorious'.  The old joke about arguing over the Internet being like the Special Olympics still holds true I'm afraid.  However, as BC matures and more and more seasoned investors and entrepreneurs come on board, I expect (read "hope") that much of the noise of late will dissipate rapidly.

The Internet is full of "expert opinions" - many of which are disseminated from the basements of the author's parents' house.    Although crypto currencies (especially BC which is barely 2 months old) is definitely a young man's game, in many aspects - there are some of us older guys involved as well.  I agree that it is possible that some people might be discouraged from participation by the FUD that occasionally gets thrown about... but I also believe that the opportunities presented by both the coin, and the vast majority of the community backing it, will win the day ultimately.  For most people, the opinions of others are either entertaining, enraging or (occasionally) thought-provoking and useful, but it's what your own beliefs/logic dictate that results in or prevents action.  Trolls and dissenters can not change that in someone who's actually done their research.

Keep your head up and above all the bullshit... you don't want to get dragged down there with them!  One day we'll all look back on these growing pains and laugh... but that doesn't mean there won't be more of them around the next bend in the road.

Take a minute to just sit back and smile... you've earned it!

+1

We definitely need more rational members like you becoming more active...

[Soepkip]

Coinkite adds BlackCoin!

http://www.blackcoin.co/general/coinkite-adds-blackcoin/

Tell the world! Contact Crypto News sites etc.!

[hellyeahent]

about security: could someone explain how we could be hacked ? (pos) I know ppl have to have wallets opened, but how many coins/ppl/whatever ?


And 2nd. Mb we will increasy inflation to 2% ? No that big difference but if that will secure us mb not that stupid idea?

[digicidal]

One of the comments about the multipool's profitability (although presented by a notable troll in this thread apparently) I felt should be addressed specifically.

Note that I have nothing against many of the multipools on PoolPicker - but I find it humorous that after such a tiny amount of actual data (all of which is positive) a single day of not being the #1 pool in the list is considered proof of 'failure'.

Without exception, none of the pools represented have avoided being less profitable than simply mining LTC - on numerous occasions over the past 30 days.  The profitability algorithms of some of these older pools is obviously top notch - with the exception of Middlecoin which obviously needs work as it's all over the place from day to day.

Although 4 days is definitely not enough data to mark any kind of trend - so far, our pool has never been less profitable than mining LTC.  Considering how young in the development cycle the profitability algorithms are, I really don't expect it to fall below LTC - outside of a bug (which happens, no matter how careful you are as a dev) or a completely unexpected breakaway coin release. 

The other pools introduced on PoolPicker around the same time - multipool.us, coinfu.io, and wemineall.com - have all had several days below LTC profitability already... and a few of the older pools have spent nearly 40% of their time under that level as well.

The dev team is to be commended for this achievement.  It would be adequate (especially to people like myself) for mining the pool to just not cost me too much money... since it's paying in something I believe will be worth 10X more in a reasonably short period of time. For that mining to be profitable instantly (even to those immediately dumping for BTC) is really incredible!  Great job LDG - especially St. GNU for all the code-crafting behind the scenes - you guys are absolutely killing it!

[noerc]

about security: could someone explain how we could be hacked ? (pos) I know ppl have to have wallets opened, but how many coins/ppl/whatever ?

Technically you need 51% of all blackcoins to perform a hack in terms of double spending etc. Theoretically the required amount of coins is smaller if an attacker is able to precompute the chain, but this is open research afaik.

[SL1M]

Hello,

Just passing by  to show my support.

RAT4, SOEPKIP, ICONICEXPERT and all the others thank you for your efforts

Keep up doing the good work and don't worry about the 10k

BLACKCOIN WILL PROSPER

Slim

[Degolep]

retard(s) dumping BC just to not reach 10k...

[digicidal]

about security: could someone explain how we could be hacked ? (pos) I know ppl have to have wallets opened, but how many coins/ppl/whatever ?

Technically you need 51% of all blackcoins to perform a hack in terms of double spending etc. Theoretically the required amount of coins is smaller if an attacker is able to precompute the chain, but this is open research afaik.

As I understand it you wouldn't need 51% of all blackcoins - but simply 51% of all currently staking blackcoins... which would be a much smaller amount as many wallets would be closed, some would be open but locked (therefore not staking), etc.  So it is indeed easier, theoretically, than simply having a wallet with ~38M BC staking in it.

On the other hand, it definitely is uncharted territory - and on-going open research as you noted.  In reality, I think it simply comes down to a matter of odds... which are definitely in the favor of blockchain security and against someone attempting to double-spend.  A great deal of which is improved with BC due to the speed with which confirmations occur.  As it would require sequential blocks pushed by the attacking PoS wallet - the duration of which would be barely over a minute - the likelihood of profiting from such an action would be very limited.

In a PoW coin - even BTC with it's mighty hashrate - this is a little more likely due to the amount of time in between confirmations.  Especially as the PoW rewards dwindle, there is less and less incentive for miners to secure the blockchain.  In the case of BC, there isn't a possibility of PoW 'targeted attacks' and simply having half of all BC in existence would not necessarily allow for this (at least as I see it) due to the fact that the staking amount and duration are randomized.

Please correct me on any aspects that I'm ignorant of - this is just my 'quick take' on the issue based on my brief perusal of Sunny King's paper and the wiki articles on PoS.