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[CoinHumper]

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[doublec]

So from this non programmers point of view I have learned several things that could easily hurt Solicoin 2.0.
3) Client must communicate with Super node

Where are you getting information about supernodes? Has source or a paper been released?

[tacotime]

So from this non programmers point of view I have learned several things that could easily hurt Solicoin 2.0.
3) Client must communicate with Super node

Where are you getting information about supernodes? Has source or a paper been released?

it's part of coinhunter's "genius" solution to 51% attack, he just mines 50% of the nodes himself to ensure no one can ever get 51% and fork the chain

[bulanula]

So from this non programmers point of view I have learned several things that could easily hurt Solicoin 2.0.
3) Client must communicate with Super node

Where are you getting information about supernodes? Has source or a paper been released?

It is all just rumours ATM, I'm afraid.

[Bobnova]

Not at all, I and the rest of the IRC were told directly by CH about the trusted nodes doing every even block (with a difficulty of 1).
The entire IRC got to watch him duck questions about the trusted nodes, too.

[Red]

I suspect it is different than you think. He was here last night saying it was distributed.

I think it probably does something like this.
-------------

That's actually pretty darn clever! He has created a trivial implementation of a vector clock. Basically the "trusted nodes" are really time keepers marking what happened in what order. I'm assuming they are known in number and non-anonymous nodes.

In the case of a network partitioning (intensional or otherwise) the known trusted nodes have to be partitioned as well. In this case, since you know the total number of trusted nodes, you have an additional piece of information to use in reconciling chain forks. The number of trusted nodes marking time on each fork. This defines the center of the SolidCoin universe.

If 90% of the trusted nodes are marking time on one fork, and you are hammering a fork with 10% of trusted nodes marking time, you will probably lose when the partitioned networks recombine. But fortunately, for you, that should become apparent as you see timekeepers drop off your chain.

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

My guess is the 'network requirements' are that every second block has to be signed by some king of magic private key. Of course that would be terrible design as the key will leak sooner or later but I can't think of any other way of getting trusted super nodes to contribute to the block chain in the way SC2 seems to have done.

I don't think it requires a common key. It does seem to require making a donation to the central fund though. Assuming anyone could participate as a trusted peer if they wanted, then you have the following dynamic.

Fork A: One hundred independent trusted peers interspersing donations between 1000 generated blocks, means 10 donations each.
Fork B: One clandestine group interspersing donations between 1000 generated blocks, means 1000 donations.

Perhaps that is the disincentive?

[Bobnova]

Saw on IRC what it takes to be a supernode:

A wallet with 1m coins in it, that appears to be the only thing.

The premine was slightly higher than announced, given that ten supernodes each got 1.2m coins!

Even numbered (supernode) blocks don't generate coins, rather they cost 5% of whatever a normal block is worth.



It's an interesting way to prevent 51% attacks, but it A) assumes the attacker doesn't have 1m coins, and B) currently places the entire network in the hands of a single person (centralized!).

[johnj]

Saw on IRC what it takes to be a supernode:

A wallet with 1m coins in it, that appears to be the only thing.

The premine was slightly higher than announced, given that ten supernodes each got 1.2m coins!

Even numbered (supernode) blocks don't generate coins, rather they cost 5% of whatever a normal block is worth.



It's an interesting way to prevent 51% attacks, but it A) assumes the attacker doesn't have 1m coins, and B) currently places the entire network in the hands of a single person (centralized!).

Wait, so the premine was actually 12m?

[Bobnova]

Don't forget the (70k? 37k?  I can't remember) for the Coin Protection Fund (in RS/CH's wallet) and the 1.2m "for reimbursing 1.04 coins".

So something like 13.3m premine.  New record!

[doublec]

Wait, so the premine was actually 12m?

The coins are apparently unspendable - the client is hardcoded not to allow spending from the premined supernode addresses.

[johnj]

Don't forget the (70k? 37k?  I can't remember) for the Coin Protection Fund (in RS/CH's wallet) and the 1.2m "for reimbursing 1.04 coins".

So something like 13.3m premine.  New record!

Lolcust is gonna be jealous

But holy shit, 13m coins is -crazy-.  If this turns out to be true, I would push for CH getting a forum 'scammer' label.  This is a gross display of classic bait-n-switch.  During the beta, the mining hashes were higher and he announced there would only be ~1m coins. Just yesterday he was bashing GG/TBX, saying that those have more premined which (allegedly) turns out to be a bold-faced lie. Combined with the other half-truths which he spews to deliberately mislead folks.... yeah, I say a 'Scammer' label could possibly be in order.

[johnj]

Wait, so the premine was actually 12m?

The coins are apparently unspendable - the client is hardcoded not to allow spending from the premined supernode addresses.

Ahh, then that changes things maybe.

If the coins are unspendable, then what purpose does their creation serve in the first place?

[Bobnova]

To secure the network as a centralized agency.
That does assume they really are hardcoded that way of course.
They also send the coins each block costs to the CPF, which can spend coins.

[johnj]

That is poor analysis. The CPF is awarded those coins (5% created, 5% from node). The "Trusted nodes" lose money supporting the network and anyone can become a trusted node provided they match the network requirements. It's pure decentralized trust. If it sounds interesting to you then you'll have to wait until tomorrow when all will be revealed.

He's saying that anyone can become a trusted node.  Does that mean he has more premined coins to hand out?

[kano]

Wait, so the premine was actually 12m?

The coins are apparently unspendable - the client is hardcoded not to allow spending from the premined supernode addresses.

Well ... to state the obvious ... unspendable at the moment.

[Bobnova]

Yes, you did have a math+reading comprehension failure.

Go back and re-read that post and the one(s) above it.
12m premined for nodes + 1.2m for 1.04 coins + CPF fund = 13.something million.

[Deprived]

Wait, so the premine was actually 12m?

The coins are apparently unspendable - the client is hardcoded not to allow spending from the premined supernode addresses.

And as it's not open-source, how are we supposed to:

A.  Know that's the case.
B.  Know that any update doesn't change it?

If the answer to those is "you have to trust me" then WTF is the point of hard-coding it in the first place?

[DeathAndTaxes]

Neither.  A rather pathetic method to siphon funds from the SC economy into the personal wallet file of one person.

[Spacy]

Neither.  A rather pathetic method to siphon funds from the SC economy into the personal wallet file of one person.

It all comes down to one question: Do you support the CPF or not? Answer this and you know if SC2 is for you or not.

[DeathAndTaxes]

Neither.  A rather pathetic method to siphon funds from the SC economy into the personal wallet file of one person.

It all comes down to one question: Do you support the CPF or not? Answer this and you know if SC2 is for you or not.

CPF doesn't exist.  The money flows directly into Coin Hunter's wallet.  Period.  You can dress that up with any fancy acronym you want but the reality is there is a mechanism which transfers wealth to CH.  He holds the private keys it is his coins.

Maybe he will use it for good.  Maybe he will use it to end world hunger.  Maybe he won't.

The real question is do you want to be involved in a centralized digital fiat currency which requires implicit trust on a single person without any checks or balances.

Essentially Coin Hunter's scheme undoes all the advantages of crypto-currency

Non-fiat is now fiat.  He can directly manipulate the inflation or deflation of currency to his personal benefit.  i.e. Federal Reserve for SC.
Decentralized is no Centralized.  He controls all the keys to the castle, all the source code, and if he died tomorrow SC would fail.
Trust-Free is now Implicit Trust.  The entire SC system works if you trust Coin Hunter to do the right thing today and always in the future.  If he doesn't it fails.