Is 100% pos insecure?

[voluntarist500]

XBC was doublespent at poloniex. Several thousand usd worth was stolen few days ago.
Now WC was doublespent at mintpal just a few hours ago.
I am no expert in this (can't read and write code).
I have to ask: are these pos-coins secure? It doesn't look like it.
Is a mix of pos and pow the way to go? Or is pure pow the most secure?  
What's your opinion on it?

[r0ach]

I don't know what the hell XBC is, but WC pool was DOS attacked while wallet stake was being fixed.  0 people were staking since staking was being fixed, and the pool was down from DOS attack.  It really has nothing to do with proof of stake.  After the new wallet is released within a day or so, it won't be an issue.

[daddyiamsorry]

I think it is secure.
These 2 coins have something other issues, rather than POS system.

[r0ach]

For WC, it's the equivalent of if someone DOS'd all the Bitcoin pools.  After staking is fixed, you can't do that.

[reRaise]

The coin is a blatant scam. The first block generated for this coin reveals that 2,340,000 WC were created instantaneously. Roach is left holding the bag or something trying to defend this worthless coin.

[r0ach]

The coin is a blatant scam. The first block generated for this coin reveals that 2,340,000 WC were created instantaneously. Roach is left holding the bag or something trying to defend this worthless coin.

^This guy is a scammer.  He posted nothing but Quark spam for months on end and then it halves in price.  Then he has the balls to call other coins a scam after making 100 Quark posts a day lol.

If any coin is a scam, it's Quark.  You can't have a PoW coin and then release all coins in 2 months.

[reRaise]

The coin is a blatant scam. The first block generated for this coin reveals that 2,340,000 WC were created instantaneously. Roach is left holding the bag or something trying to defend this worthless coin.

^This guy is a scammer.  He posted nothing but Quark spam for months on end and then it halves in price.  Then he has the balls to call other coins a scam after making 100 Quark posts a day lol.

If any coin is a scam, it's my mom.  You can't have a PoW coin and then release all coins in 2 months.

U obviously possess next to nil intelligence as ur response is flawed as hell. First of all Quark can still be mined, the block reward halving was just faster taking 6 months. It's not ridiculously instamined like the scam coins you have invested in which left you holding the bag. Quark is still here and accepted in one of the top games as in game payments http://www.reddit.com/r/gaming/comments/1zq2hl/shaq_fu_a_legend_reborn_game_teaser/, something even Bitcoin doesn't have yet and the first coin making multiple hashing big so.

You just want to change Topic, trying to manoeuvre through legit scam accusations on Whitecoin and Asiacoin.

[r0ach]

Quark is still here and accepted in one of the top games as in game payments http://www.reddit.com/r/gaming/comments/1zq2hl/shaq_fu_a_legend_reborn_game_teaser/

You know this guy is putting out some crazy propaganda when he mentions "Shaq Fu" as not just a game, but as "one of the top games".

Top games where?  Yugoslavia?  Papua New Guinea?  Kenya?

I read about it before already and the second reply in the thread was from someone like Spoetnik saying, "wow, I remember playing that game on Genesis when I was 10, and boy did it suck"

[reRaise]

Quark is still here and accepted in one of the top games as in game payments http://www.reddit.com/r/gaming/comments/1zq2hl/shaq_fu_a_legend_reborn_game_teaser/

You know this guy is putting out some crazy propaganda when he mentions "Shaq Fu" as not just a game, but as "one of the top games".

Top games where?  Yugoslavia?  Papua New Guinea?  Kenya?

I read about it before already and the second reply in the thread was from someone like Spoetnik saying, "wow, I remember playing that game on Genesis when I was 10, and boy did it suck"

The first game was shit, Shaquille O'neal himself even agrees. This is not 1994, this game is being made by big deez Productions, a team that made projects like HALO, Street Fighter, Mortal Kombat, Final Fantasy, Alan Wake, Spec Ops: The Line, Battlefield, Killzone, Max Payne, Duke Nukem.

This one seems much more promising and how awesome, Quark as a Crypto can be used for in-game payments, new items and stuff and the developer mentioned just Quark will be accepted when asked if they have plans to add Bitcoin, Litecoin or Doge.

[Amph]

WhiteCoin had doublespend attacks while NOONE was staking, because staking didn't work and they were waiting for a new wallet. So yea, if noone is staking PoS is insecure, like PoW is insecure when noone is mining...

but WC isn't a pure pos, i read about a vulnerability about pow/pos hybrid where the attacker take on the pow part

[voluntarist500]

thanks for those replies. I did learn something from this. Thank you.

[Stacks]

The coin is a blatant scam. The first block generated for this coin reveals that 2,340,000 WC were created instantaneously. Roach is left holding the bag or something trying to defend this worthless coin.

This coin was premined a total of .78% and everyone purchasing who did the research new that.  Premining a very small amount is common.  Although WC has had a very rough road it will prevail and continue to grow.  The community has came together to bring in new devs who are competent and will fix the issues.  The bottom line is when not if, the coin becomes fully functional and works as advertised hash rate on the multipool will grow, volume will grow, new investors will be attracted and price will rise.  All of the problems will be a distant memory along with the currently low price.

[Redrocket2]

It makes sense to do your research  before buying any coin. From the limited information available about WC it seems since chain was populated via POW it was pure 51%. Feel free to post more details about it so we can learn.

[lynn_402]

Remember when rat4, the dev of blackcoin found a vulnerability of PoW/PoS hybrids with low PoW difficulty? I think something could be the problem of cheap pure PoS. With PoS price has the same function as difficulty, so its easy to buy half the coins, if the price is really low, but then again if the price is very low nobody cares about the coin and has nothing to gain by destroying it. When there is nothing at stake, there is nothing to gain by ruining that stake ... thats the only problem I see with PoS coins, if they are cheap someone could 51% them for fun...

You truly believe someone would spend hundreds of thousands of dollars to destroy a coin, for fun? That makes no sense.
And if someone tried to buy half of any coin, its value would go to the moon in no time really.

[lynn_402]

Remember when rat4, the dev of blackcoin found a vulnerability of PoW/PoS hybrids with low PoW difficulty? I think something could be the problem of cheap pure PoS. With PoS price has the same function as difficulty, so its easy to buy half the coins, if the price is really low, but then again if the price is very low nobody cares about the coin and has nothing to gain by destroying it. When there is nothing at stake, there is nothing to gain by ruining that stake ... thats the only problem I see with PoS coins, if they are cheap someone could 51% them for fun...

You truly believe someone would spend hundreds of thousands of dollars to destroy a coin, for fun? That makes no sense.
And if someone tried to buy half of any coin, its value would go to the moon in no time really.

Why not, if the coin was cheap enough? But of course I don't believe it will happen to established PoS coins, thats why I like the PoS model... its just an unprobable theoretical possibility. But hey if people were contemplating starting a nuclear war, you never know, hehe.

Indeed
However that possibility is also there for PoW; if a coin's value is low, the hashrate will be low, and 51% attacks would be quite easier and cheaper than if you need to buy 51% of the coins.

[Willisius]

Quark is still here and accepted in one of the top games as in game payments http://www.reddit.com/r/gaming/comments/1zq2hl/shaq_fu_a_legend_reborn_game_teaser/

You know this guy is putting out some crazy propaganda when he mentions "Shaq Fu" as not just a game, but as "one of the top games".

Top games where?  Yugoslavia?  Papua New Guinea?  Kenya?

I read about it before already and the second reply in the thread was from someone like Spoetnik saying, "wow, I remember playing that game on Genesis when I was 10, and boy did it suck"

The first game was shit, Shaquille O'neal himself even agrees. This is not 1994, this game is being made by big deez Productions, a team that made projects like HALO, Street Fighter, Mortal Kombat, Final Fantasy, Alan Wake, Spec Ops: The Line, Battlefield, Killzone, Max Payne, Duke Nukem.

This one seems much more promising and how awesome, Quark as a Crypto can be used for in-game payments, new items and stuff and the developer mentioned just Quark will be accepted when asked if they have plans to add Bitcoin, Litecoin or Doge.

A team that made projects like HALO, Street Fighter, Mortal Kombat, Final Fantasy...I'll stop you there. Those weren't made by the same team, or even company. Maybe you meant something different? Just confused.

[mohammedfaiz143]

Remember when rat4, the dev of blackcoin found a vulnerability of PoW/PoS hybrids with low PoW difficulty? I think something could be the problem of cheap pure PoS. With PoS price has the same function as difficulty, so its easy to buy half the coins, if the price is really low, but then again if the price is very low nobody cares about the coin and has nothing to gain by destroying it. When there is nothing at stake, there is nothing to gain by ruining that stake ... thats the only problem I see with PoS coins, if they are cheap someone could 51% them for fun...

You truly believe someone would spend hundreds of thousands of dollars to destroy a coin, for fun? That makes no sense.
And if someone tried to buy half of any coin, its value would go to the moon in no time really.

In that case you have never encountered BitcoinEXpress  

[lynn_402]

Remember when rat4, the dev of blackcoin found a vulnerability of PoW/PoS hybrids with low PoW difficulty? I think something could be the problem of cheap pure PoS. With PoS price has the same function as difficulty, so its easy to buy half the coins, if the price is really low, but then again if the price is very low nobody cares about the coin and has nothing to gain by destroying it. When there is nothing at stake, there is nothing to gain by ruining that stake ... thats the only problem I see with PoS coins, if they are cheap someone could 51% them for fun...

You truly believe someone would spend hundreds of thousands of dollars to destroy a coin, for fun? That makes no sense.
And if someone tried to buy half of any coin, its value would go to the moon in no time really.

In that case you have never encountered BitcoinEXpress  

Haha, indeed.
However, it is still much easier for people like him to attack the myriad of PoW coins who have a network hashrate of less than 1Gh/s.
Buying half of the total supply of a PoS coin who has a 50000$ market cap would probably require to make the price jump ten-folds, since it's actually hard to find this many sellers. 500 mh/s of scrypt rigs would cost less, and it would be less risky since they'd generate profits even if the attack was to be unsucessful.

[XbladeX]

WhiteCoin had doublespend attacks while NOONE was staking, because staking didn't work and they were waiting for a new wallet. So yea, if noone is staking PoS is insecure, like PoW is insecure when noone is mining...

but WC isn't a pure pos, i read about a vulnerability about pow/pos hybrid where the attacker take on the pow part

Its supposed to be pa pure clone of BlackCoin, so PoW/PoS hybrid for the purpose of initial distribution (about one week) and then forked to pure PoS. The problem you are talking about is the problem rat found with MintCoin where PoW could be exploited as the coin moved to its PoS stage, but kept the PoW protocol (at least I think thats what happened). White was just cloned badly, so their staking code wasn't working.

Noob dev cloned some coins without any knowledge what is he doing and in reality WC NEVER HAD POS... and till i am writing it doesn't have POS working there is only POW without any reward that is problem.
Without wallet fix WC is POW coin all the time there is no POS and there wasn't any so far.

Problem which WC have is POW problem not POS.

New Dev team is fixing wallet almost 5days...that is issue...
It was too long and attackers took advantage of it and made 2x spend attack.

WC wasn't POS coin and is not now while i am writing. !
all because noobs 1st devs who ran away and sold premine -at the end he scammed all wc bag holders

[r0ach]

WC wasn't POS coin and is not now while i am writing. !
all because noobs 1st devs who ran away and sold premine -at the end he scammed all wc bag holders

[13:52] <+Oizopower> NOTICE: if you wan't to participate in tonights beta for the wallet, get a linux enviroment with GUI running, be in this channel in 6 hours.

It's pretty obvious you want WC to go down to prevent it from taking any BC marketshare, but the propaganda campaign against it isn't gonna work for much longer.