Bitcoin Forum
December 15, 2017, 07:03:22 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: Where would you prefer the VRC/VRM exchange pair be?
Bittrex
Poloniex
Both
Other

Pages: « 1 ... 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 [90] 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 ... 964 »
  Print  
Author Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released  (Read 1346448 times)
ScottAllyn
Full Member
***
Offline Offline

Activity: 236


¿ʇɐɥʍ


View Profile WWW
June 06, 2014, 02:38:58 AM
 #1781

Has anybody gotten any payouts for the vericoin multipool while mining X11?

I've been mining for 24h and haven't received anything yet. My address is correct.

I've received payouts, tho not in the last 24 hours. Remember, the pool is currently in alpha testing... there WILL be problems. The dev said there was an issue with the auto payments yesterday, which he corrected (hopefully) today. He said that we'd receive those missing coins with the next auto-payout (if all goes well).

Ignored User Cleanup Script - Completely hide ignored users!
1513321402
Hero Member
*
Offline Offline

Posts: 1513321402

View Profile Personal Message (Offline)

Ignore
1513321402
Reply with quote  #2

1513321402
Report to moderator
1513321402
Hero Member
*
Offline Offline

Posts: 1513321402

View Profile Personal Message (Offline)

Ignore
1513321402
Reply with quote  #2

1513321402
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513321402
Hero Member
*
Offline Offline

Posts: 1513321402

View Profile Personal Message (Offline)

Ignore
1513321402
Reply with quote  #2

1513321402
Report to moderator
1513321402
Hero Member
*
Offline Offline

Posts: 1513321402

View Profile Personal Message (Offline)

Ignore
1513321402
Reply with quote  #2

1513321402
Report to moderator
adaseb
Legendary
*
Offline Offline

Activity: 1442



View Profile
June 06, 2014, 02:40:13 AM
 #1782

This upmove here is a false move.

Its rising on low volume.

I am avoiding buying here until I see more volume.

Little orders being filled.

FORTUNEJACK.COM[
                            
5 BTC WELCOME PACK FOR 1ST 5 DEPOSITS
FREE 1,000 mBTC daily for LuckyJack winners
[
          
]
espectator
Newbie
*
Offline Offline

Activity: 7


View Profile
June 06, 2014, 02:41:38 AM
 #1783

Has anybody gotten any payouts for the vericoin multipool while mining X11?

I've been mining for 24h and haven't received anything yet. My address is correct.

I've received payouts, tho not in the last 24 hours. Remember, the pool is currently in alpha testing... there WILL be problems. The dev said there was an issue with the auto payments yesterday, which he corrected (hopefully) today. He said that we'd receive those missing coins with the next auto-payout (if all goes well).

Alright, I'll be waiting. Thank you.
pnosker
Sr. Member
****
Offline Offline

Activity: 462


View Profile
June 06, 2014, 02:52:13 AM
 #1784

So the innovation here is the dynamic interest rate. The way it works is that the interest rate scales according to network stake. If there's a higher amount of staked coins, the interest rate goes up. That means the more "invested" you are in the coin, the more interest you will make.

This essentially gives incentive for you to hold your coin in your wallet rather than keeping it on an exchange, gives you reason to tell your friends to acquire some coin and keep it staking, etc. because it helps both you and them. It's the only coin that provides additional reward for keeping the coin.
This part is good and got me interested. I am an investor, not a trader.

It also provides a reasonable interest rate compared to Blackcoin (1%) and other PoS coins (10%+ interest). Most stable economies have higher inflation than 1% so assuming the coin's value keeps steady it makes more sense to put it in FIAT and earn traditional interest. With the dynamic scaling interest rate, you're likely to make 2-2.5% interest which is much more in line with mature economies.
This part turned me off. Here's why:
Coin devs need to understand that 20% APR is not attractive for a long term investment, when MINT can lose/gain over 100% in one day.
We are NOT in real life. We are in Cryptoland. You don't expect the price of cookie to triple in one day (or even to goes up by 10%). Hence the low interest.
In Cryptoland, rules are different. Coins using real-life interests for crypto miss the point.

So, relaunch or clone with a higher stake, or just live your pump and dump life.

Thanks for your advice.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
Rage19420
Hero Member
*****
Offline Offline

Activity: 630


View Profile
June 06, 2014, 02:52:22 AM
 #1785

Has anybody gotten any payouts for the vericoin multipool while mining X11?

I've been mining for 24h and haven't received anything yet. My address is correct.

I've received payouts, tho not in the last 24 hours. Remember, the pool is currently in alpha testing... there WILL be problems. The dev said there was an issue with the auto payments yesterday, which he corrected (hopefully) today. He said that we'd receive those missing coins with the next auto-payout (if all goes well).

Alright, I'll be waiting. Thank you.

Supposed to be double payouts today as a result of nothing yesterday.
Kevondo
Sr. Member
****
Offline Offline

Activity: 420



View Profile
June 06, 2014, 02:58:47 AM
 #1786

Has anybody gotten any payouts for the vericoin multipool while mining X11?

I've been mining for 24h and haven't received anything yet. My address is correct.

The MultiPool is still in Alpha. Which means, it may shut down periodically for adjustments. All Shares R being recorded. U will be paid for the hash you have put into the pool.

I have had my rig aimed @ the multipool for 4 days. I have received payouts twice in the late evening and the early morning. I did not receive a payment yesterday.

pnosker, a Dev, stated earlier today there will be double payout tonight. Probably

The rub is that the auto-pay module is not working smoothly. All payouts have to be done manually, this is temporary.

The 2 Dev's also hold down full time jobs. The spend an inordinate amount of time here or on IRC. They have recently hired an accomplished, respected software , crypto guy to help.

They R known for delivering what they say they will, and give frank and honest replies.

The wallet is polished and bullet proof.

The next priority is the MultiPool . Take some time to read the last 10-15 pages of this thread. It will address  a lot  of your concerns and give you a feel for what VRC is doing.

When fully functional the MultiPool will payout @ yet to be determined intervals and occasions daily. For now it's done manually.

Presently, data from M/P such as coins per MG/h R unavailable. All features common to other MP's will eventualluy be instituted.

What makes VRC special is,The Anon apps, sms transfers, world wide distribution, coin-mixing and OBA (Optimized Buying Algorithum) and other stuff they have yet to announce.

U can learn about all these things by putting some time in reading the past pages on this thread

Put some time in and become part of a committed community inspired by a Development team making true innovations. Integrity, Hard work, and transparency R their hallmarks.

And........ U just might make some money    

.

███████████████████████
███████████████████████████
█████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
██████████████
█████████████
██████████████
██████████████
██████████████
██████████████
██████████████
███████████████
██████████████
███████████████
██████████████
███████████████
█████████
███████████████
████████
████████████████████
█████████
██████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
█████████████████████████████
███████████████████████████
███████████████████████












CryptoClub
Legendary
*
Offline Offline

Activity: 1344


cryptocollectorsclub.com


View Profile
June 06, 2014, 03:20:47 AM
 #1787

So the innovation here is the dynamic interest rate. The way it works is that the interest rate scales according to network stake. If there's a higher amount of staked coins, the interest rate goes up. That means the more "invested" you are in the coin, the more interest you will make.

This essentially gives incentive for you to hold your coin in your wallet rather than keeping it on an exchange, gives you reason to tell your friends to acquire some coin and keep it staking, etc. because it helps both you and them. It's the only coin that provides additional reward for keeping the coin.
This part is good and got me interested. I am an investor, not a trader.

It also provides a reasonable interest rate compared to Blackcoin (1%) and other PoS coins (10%+ interest). Most stable economies have higher inflation than 1% so assuming the coin's value keeps steady it makes more sense to put it in FIAT and earn traditional interest. With the dynamic scaling interest rate, you're likely to make 2-2.5% interest which is much more in line with mature economies.
This part turned me off. Here's why:
Coin devs need to understand that 20% APR is not attractive for a long term investment, when MINT can lose/gain over 100% in one day.
We are NOT in real life. We are in Cryptoland. You don't expect the price of cookie to triple in one day (or even to goes up by 10%). Hence the low interest.
In Cryptoland, rules are different. Coins using real-life interests for crypto miss the point.

So, relaunch or clone with a higher stake, or just live your pump and dump life.

You are clearly a huge fan of Monero. I have not followed it that closely, but, as a POW coin, it is CPU mined, right? What is to prevent it from being dumped by miners (or mined by bot farms) if the value ever goes up much? FLT and MYR are both very innovative, but no matter what they do, they face miners dumping on every "pump." POS coins with low interest maintain value better in the real world, and in cryptoland. I am sure XMR is great, but your advice on interest rates is really off the mark. The most successful POS coins have the lowest rates. Just look at the CMC and this is fact. No debating it, all the top POS coins have the lowest rates, no doubt, no question, that is reality. NXT/PPC/BC

PUMPBANDIT
Member
**
Offline Offline

Activity: 112


View Profile
June 06, 2014, 03:22:20 AM
 #1788

I can see this coin hitting 200 - 300 in 24-48
Went up x3 in 12 hrs.


But who ever is putting out the bids on Minty should be sacked!!!!
To big a gap looks like your trying too hard and people walk.
pnosker
Sr. Member
****
Offline Offline

Activity: 462


View Profile
June 06, 2014, 04:26:23 AM
 #1789

2 updates:

1. Ask us questions at the VeriCoin subreddit: http://www.reddit.com/r/vericoin/comments/27g128/we_are_vericoin_ask_us_almost_anything/

2. We released a "white" presentation with more details about our Anon system: www.pnosker.com/vericoin-anon.pdf

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
coine_smithe
Sr. Member
****
Offline Offline

Activity: 322


View Profile
June 06, 2014, 04:37:48 AM
 #1790

2 updates:

1. Ask us questions at the VeriCoin subreddit: http://www.reddit.com/r/vericoin/comments/27g128/we_are_vericoin_ask_us_almost_anything/

2. We released a "white" presentation with more details about our Anon system: www.pnosker.com/vericoin-anon.pdf

Expect a dump to reward your troubles. That way profiteers can accumulate this great coin before takeoff.  Grin
pnosker
Sr. Member
****
Offline Offline

Activity: 462


View Profile
June 06, 2014, 04:41:04 AM
 #1791

2 updates:

1. Ask us questions at the VeriCoin subreddit: http://www.reddit.com/r/vericoin/comments/27g128/we_are_vericoin_ask_us_almost_anything/

2. We released a "white" presentation with more details about our Anon system: www.pnosker.com/vericoin-anon.pdf

Expect a dump to reward your troubles. That way profiteers can accumulate this great coin before takeoff.  Grin

Please, anyone who gained something from VeriCoin so far, please donate to help us keep stuff going:

VDbSLcgkVZSeRQyK3YwMFzPaLHEXWgLHFi or 13j9bCMHtYM3xkbyYDg9UgJ757SkAryKHg

I've been paying the supernode costs out of pocket as well as hiring our latest dev. We didn't premine/IPO and could really use some donations now for the new dev.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
foxy
Sr. Member
****
Offline Offline

Activity: 280


CLOUT media.decentralised


View Profile
June 06, 2014, 04:59:15 AM
 #1792

2 updates:

1. Ask us questions at the VeriCoin subreddit: http://www.reddit.com/r/vericoin/comments/27g128/we_are_vericoin_ask_us_almost_anything/

2. We released a "white" presentation with more details about our Anon system: www.pnosker.com/vericoin-anon.pdf

VeriCoinPorn eh? nice example LOL
sent 2k VRC to your donation address. keep the news coming, good job guys.

███████████████████████▄▄
██████▄▄██████████████▄██▄██████████████▄▄
█████▄██▄████████████▄████▄████████████▄██▄
████▄████▄██████████▄██████▄██████████▄████▄
███▄██████▄████████▄████████▄████████▄██████▄
██▄████████▄██████▄██████████▄██████▄████████▄
▄██████████▄████▀████████████▀████▄██████████▄
▀████████████▀████▀██████████▀████▀████████████▀
▀██████████▀██▄▄██▀████████▀██▄▄██▀██████████▀
██▀████████▀██▄██▄██▀██████▀██▄██▄██▀████████▀
███▀██████▀██▄████▄██▀████▀██▄████▄██▀██████▀
████▀████▀██▄██████▄██▀██▀██▄██████▄██▀████▀
█████▀██▀██▄████████▄██▀▀██▄████████▄██▀██▀




 ▄███████████   ███              ▄██████████▄    ███         ███  ███████████████
███▀▀▀▀▀▀▀▀▀▀   ███             ███▀▀▀▀▀▀▀▀███   ███         ███  ▀▀▀▀▀▀███▀▀▀▀▀▀
███             ███            ███          ███  ███         ███        ███
███             ███            ███          ███  ███         ███        ███
███             ███            ███          ███  ███         ███        ███
███             ███            ▀██▄        ▄██▀   ▀██▄       ███        ███
▀████████████   █████████████   ▀████████████▀     ▀████████████        ███
  ▀▀▀▀▀▀▀▀▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀▀      ▀▀▀▀▀▀▀▀           ▀▀▀▀▀▀▀▀▀▀        ▀▀▀


.
Media Decentralized


ICO

Twitter
Facebook
ANN Thread
Telegram
Medium
Discord


pnosker
Sr. Member
****
Offline Offline

Activity: 462


View Profile
June 06, 2014, 05:01:24 AM
 #1793

Since CRY was so nice to accuse us of stealing ANON from others and saying how theirs is better, I figured I would write a quick analysis on theirs.

Firstly, I love their stick figures.

Anyway, their implementation is not possible.

Let's go through their list point by point (my commentary in bold):

CryptCast Synopsis
● Wallet A wants to send an anonymous transaction to Wallet B.
● Wallet A (sender) encrypts a message towards Wallet B (recipient) by
using private/public key concept, with Wallet B’s public key.
I'm not sure if CRY is talking about using the CRY public/private keys as in addresses and private keys, but I looked very heavily into that and it's not possible. The pubkey (or address) is actually a hash of the privatekey and cannot serve as a private key. It's possible to get Wallet B's public key, but only if it has sent a transaction before and thus it's in the blockchain. There's no transmission system to send that public key.
● The message is broadcasted through the nodes connected to Wallet A, and
will reach will reach Wallet B via the broadcasting system that already
exists in the Bitcoin protocol.
What I presume CRY is discussing here is probably the OP_RETURN function being integrated into BitCoin right now. It is not in the CRY codebase and is tough to integrate. More importantly, it only can store 40 bytes of data: https://bitsharestalk.org/index.php?topic=3830.0. That is not close to enough to do what is being proposed.
● Wallet B is the only one that can decrypt the message with Wallet B’s
private key.
● Wallet B receives the request for secure transaction from Wallet A.
There is no mention of how this will be done and is not easily done.
● The message contains the total number of transactions that are capable
of transmitting, and the total amount of coins.
I'm surprised there are no checksums, address verification, etc.
● E.g., if Wallet A wishes to send 3 transactions and Wallet B accepts it,
it returns 3 new addresses (encrypted message with pubkey of wallet A.)
As I said before, this is not possible to send in 40 bytes. Not only that, but where is the pubkey of wallet A going to come from?
● The message is again broadcasted till it reaches wallet A.
Broadcast until it reaches? What if Wallet A is turned off? How does it stop wallet B from broadcasting? Is there an ack? Otherwise this is certainly going to flood the blockchain. Can someone say 1 TB drives for a coin wallet?
● Wallet A decrypts the message, receives the new addresses and creates 3
transactions for each IN transaction it has, sending them to each new
address it got from the new wallet.
● Multi-transaction time-delay will be optional for maximum anonymity if
speed is not required.
● If Wallet B does not accept any type of secure transaction, it encrypts
again a message with decline response
● Wallet A then has the option of sending plain, non-secure transaction,
or to not send it at all.

I got tired of analyzing more but frankly this is impossible to do without completely restructuring the blockchain and requiring a very serious hard fork.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
CryptoClub
Legendary
*
Offline Offline

Activity: 1344


cryptocollectorsclub.com


View Profile
June 06, 2014, 05:05:56 AM
 #1794

2 updates:

1. Ask us questions at the VeriCoin subreddit: http://www.reddit.com/r/vericoin/comments/27g128/we_are_vericoin_ask_us_almost_anything/

2. We released a "white" presentation with more details about our Anon system: www.pnosker.com/vericoin-anon.pdf

Expect a dump to reward your troubles. That way profiteers can accumulate this great coin before takeoff.  Grin

Expected and observed. I feel sorry for panic sellers, but, lessons are learned the hard way.

coine_smithe
Sr. Member
****
Offline Offline

Activity: 322


View Profile
June 06, 2014, 05:09:36 AM
 #1795

...

Thanks for the analysis. It's very interesting to hear an expert's take on a dev's claims. I think you seem pretty impartial here and since you didn't initiate the attacks I don't think people will look down on you. That said as an investor I feel much more confident in VRC than CRY from the get go even without this back and forth. CRY has anonymous devs for one and their plan is much more vague. They also don't have any innovations like variable interest and SMS, so I really think this is like DRK/XC situation except instead it would be like XC (CRY) first attacking DRK (VRC).
ccryptcoin
Member
**
Offline Offline

Activity: 92

CRYPT Developer


View Profile WWW
June 06, 2014, 05:22:53 AM
 #1796

Since CRY was so nice to accuse us of stealing ANON from others and saying how theirs is better, I figured I would write a quick analysis on theirs.

Firstly, I love their stick figures.

Anyway, their implementation is not possible.

Let's go through their list point by point (my commentary in bold):

CryptCast Synopsis
● Wallet A wants to send an anonymous transaction to Wallet B.
● Wallet A (sender) encrypts a message towards Wallet B (recipient) by
using private/public key concept, with Wallet B’s public key.
I'm not sure if CRY is talking about using the CRY public/private keys as in addresses and private keys, but I looked very heavily into that and it's not possible. The pubkey (or address) is actually a hash of the privatekey and cannot serve as a private key. It's possible to get Wallet B's public key, but only if it has sent a transaction before and thus it's in the blockchain. There's no transmission system to send that public key.
● The message is broadcasted through the nodes connected to Wallet A, and
will reach will reach Wallet B via the broadcasting system that already
exists in the Bitcoin protocol.
What I presume CRY is discussing here is probably the OP_RETURN function being integrated into BitCoin right now. It is not in the CRY codebase and is tough to integrate. More importantly, it only can store 40 bytes of data: https://bitsharestalk.org/index.php?topic=3830.0. That is not close to enough to do what is being proposed.
● Wallet B is the only one that can decrypt the message with Wallet B’s
private key.
● Wallet B receives the request for secure transaction from Wallet A.
There is no mention of how this will be done and is not easily done.
● The message contains the total number of transactions that are capable
of transmitting, and the total amount of coins.
I'm surprised there are no checksums, address verification, etc.
● E.g., if Wallet A wishes to send 3 transactions and Wallet B accepts it,
it returns 3 new addresses (encrypted message with pubkey of wallet A.)
As I said before, this is not possible to send in 40 bytes. Not only that, but where is the pubkey of wallet A going to come from?
● The message is again broadcasted till it reaches wallet A.
Broadcast until it reaches? What if Wallet A is turned off? How does it stop wallet B from broadcasting? Is there an ack? Otherwise this is certainly going to flood the blockchain. Can someone say 1 TB drives for a coin wallet?
● Wallet A decrypts the message, receives the new addresses and creates 3
transactions for each IN transaction it has, sending them to each new
address it got from the new wallet.
● Multi-transaction time-delay will be optional for maximum anonymity if
speed is not required.
● If Wallet B does not accept any type of secure transaction, it encrypts
again a message with decline response
● Wallet A then has the option of sending plain, non-secure transaction,
or to not send it at all.

I got tired of analyzing more but frankly this is impossible to do without completely restructuring the blockchain and requiring a very serious hard fork.

RE: Cryptcoin Anonymous Sending

We will have full answers to your questions tomorrow, things are busy right now.

We have this working right now in testing and there are solutions to all of these issues. It explicitly says in the paper that it isn't a complete explanation. and yes, we will be doing a hard forking.

It is a very interesting method of anon sending, and we will be open sourcing it eventually, also.

It's funny that nobody in the crypto community realizes that every method of "anonymous" sending is just a proxied mixer setup which was implemented by fedoracoin all the way back in February. But nobody cared about fedoracoin.  All the current implementations are merely centralized mixers, with everyone racing to this same solution. CRY is looking forward to new things.

So far we have met all our promises. We will give more through explanations in the coming day or two - it is a busy time.

Shouldn't you be working on your own "anon" features?  Smiley

Lead Dev of CRYPT -- http://www.cryptco.org/ -- @CryptCoinTeam
ScottAllyn
Full Member
***
Offline Offline

Activity: 236


¿ʇɐɥʍ


View Profile WWW
June 06, 2014, 05:24:40 AM
 #1797

什么情况? 我早上买的时候  2014-06-05 22:44:53   BUY   0.00012220
               现在的价格2014-06-06 05:17:17   BUY   0.00007600
     在搞什么啊?这是要害死人的啊~~~· Cry


耐心。Smiley

Ignored User Cleanup Script - Completely hide ignored users!
pnosker
Sr. Member
****
Offline Offline

Activity: 462


View Profile
June 06, 2014, 05:25:08 AM
 #1798

...

Thanks for the analysis. It's very interesting to hear an expert's take on a dev's claims. I think you seem pretty impartial here and since you didn't initiate the attacks I don't think people will look down on you. That said as an investor I feel much more confident in VRC than CRY from the get go even without this back and forth. CRY has anonymous devs for one and their plan is much more vague. They also don't have any innovations like variable interest and SMS, so I really think this is like DRK/XC situation except instead it would be like XC (CRY) first attacking DRK (VRC).

VRC and I don't gain anything with attacks. I'm genuinely interested in saving the dev some time since I spent countless hours studying how to implement ANON. It's just not possible the way he wants to do it. That might also be why there's no details on his "whitepaper" (which by the way looks nothing like a REAL whitepaper). When we finish our code up for ANON it'll be public. Anyone can write something that fits the API commands and start their own ring-nodes which in turn would help keep the network even more secure.

I'm all about innovation. Yes, I didn't like when we were accused of stealing ANON from Fedora or XC. I also didn't like how he said ours was worse. The one thing I can say is that the CRY team is going to basically have to reinvent the blockchain to get their system working. Not that it can't be done, but it will most likely require a hard fork and a lot of dev and testing time.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
coine_smithe
Sr. Member
****
Offline Offline

Activity: 322


View Profile
June 06, 2014, 05:25:15 AM
 #1799

Shouldn't you be working on your own "anon" features?  Smiley

I see you regret your decision to bark up this tree.  Roll Eyes
pnosker
Sr. Member
****
Offline Offline

Activity: 462


View Profile
June 06, 2014, 05:28:00 AM
 #1800

Since CRY was so nice to accuse us of stealing ANON from others and saying how theirs is better, I figured I would write a quick analysis on theirs.

Firstly, I love their stick figures.

Anyway, their implementation is not possible.

Let's go through their list point by point (my commentary in bold):

CryptCast Synopsis
● Wallet A wants to send an anonymous transaction to Wallet B.
● Wallet A (sender) encrypts a message towards Wallet B (recipient) by
using private/public key concept, with Wallet B’s public key.
I'm not sure if CRY is talking about using the CRY public/private keys as in addresses and private keys, but I looked very heavily into that and it's not possible. The pubkey (or address) is actually a hash of the privatekey and cannot serve as a private key. It's possible to get Wallet B's public key, but only if it has sent a transaction before and thus it's in the blockchain. There's no transmission system to send that public key.
● The message is broadcasted through the nodes connected to Wallet A, and
will reach will reach Wallet B via the broadcasting system that already
exists in the Bitcoin protocol.
What I presume CRY is discussing here is probably the OP_RETURN function being integrated into BitCoin right now. It is not in the CRY codebase and is tough to integrate. More importantly, it only can store 40 bytes of data: https://bitsharestalk.org/index.php?topic=3830.0. That is not close to enough to do what is being proposed.
● Wallet B is the only one that can decrypt the message with Wallet B’s
private key.
● Wallet B receives the request for secure transaction from Wallet A.
There is no mention of how this will be done and is not easily done.
● The message contains the total number of transactions that are capable
of transmitting, and the total amount of coins.
I'm surprised there are no checksums, address verification, etc.
● E.g., if Wallet A wishes to send 3 transactions and Wallet B accepts it,
it returns 3 new addresses (encrypted message with pubkey of wallet A.)
As I said before, this is not possible to send in 40 bytes. Not only that, but where is the pubkey of wallet A going to come from?
● The message is again broadcasted till it reaches wallet A.
Broadcast until it reaches? What if Wallet A is turned off? How does it stop wallet B from broadcasting? Is there an ack? Otherwise this is certainly going to flood the blockchain. Can someone say 1 TB drives for a coin wallet?
● Wallet A decrypts the message, receives the new addresses and creates 3
transactions for each IN transaction it has, sending them to each new
address it got from the new wallet.
● Multi-transaction time-delay will be optional for maximum anonymity if
speed is not required.
● If Wallet B does not accept any type of secure transaction, it encrypts
again a message with decline response
● Wallet A then has the option of sending plain, non-secure transaction,
or to not send it at all.

I got tired of analyzing more but frankly this is impossible to do without completely restructuring the blockchain and requiring a very serious hard fork.

We will have full answers to your questions tomorrow, things are busy right now.

We have this working right now in testing and there are solutions to all of these issues. It explicitly says in the paper that it isn't a complete explanation. and yes, we will be doing a hard forking.

It is a very interesting method of anon sending, and we will be open sourcing it eventually, also.

It's funny that nobody in the crypto community realizes that every method of "anonymous" sending is just a proxied mixer setup which was implemented by fedoracoin all the way back in February. But nobody cared about fedoracoin.  All the current implementations are merely centralized mixers, with everyone racing to this same solution. CRY is looking forward to new things.

So far we have met all our promises. We will give more through explanations in the coming day or two - it is a busy time.

Shouldn't you be working on your own "anon" features?  Smiley


There's no "truely anon" anon, just like there's no "perfect" passwords. With enough computing power you can crack anything. And that includes a decentralized system. Anyway I look forward to it. I'm happy to discuss privately if you'd like. We had a short term VRC testnet with a different merkel hash where we tested trying to send encrypted data via the message tx values but it was impossible to have efficient sends/receives. But please, before you release more details, feel free to PM me. I won't leak anything and will let you know what I think if you're interested.

SMS wallet is our top priority right now but yes we are working on our own anon features.

Support the VeriFund Endowment.
VRC: VFEndownxxnHea9mv59kZx8c7TysGbndYx
Pages: « 1 ... 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 [90] 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 ... 964 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!