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Author Topic: [ANN][CRYPT] CryptCoin x11 + PoS | P2P Anonymity | 0% Premine | Commander  (Read 505791 times)
AlexGR
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June 13, 2014, 10:08:47 AM
 #961

I feel the same way. Dark has yet to get its masternodes working, and if CRY's idea works then in a 1:1 contest, CRY wins hands down. Who wants to pay transaction fees to centralized nodes that may compromise anonymity compared to CRY's alternative? It will be interesting if CRY and DARK switch places then.

Fees secure the blockchain from malicious attacks. So you'd rather pay a fee rather than have a busted blockchain that got to 1 terabyte because some kid found it funny to run a script with 1000 bogus transactions per second.

Remember that you pay for your hard disk space.

50$ / 1TB = 0.05$ per 1 GB of blockchain bloat.

Multiply that with the number of users to find the collective cost of bloat.

Standard blockchain fees will apply the additional premium 'anon fee' that XC and DRK charge will not be applicable to our anonymous function


edit: Also if you read the OP, you will notice why we chose PoW/PoS hybrid and also included fee for standard tx, this is to ensure maximal blockchain integrity. We take security very seriously but you have our concept misunderstood. Smiley

It is my understanding that DRK uses 20% block reward (from new blocks generated) to pay mixing nodes while XC uses tx fees (as it can't generate coins with new blocks due to being PoS).

DRK also uses collateral so that misbehaving or DOS attempts are penalized by losing money.

If you allow me a small correction. PoS blocks *do* generate new coins (that's how the "interest" is getting paid).
Now, regarding DRK behavior, although I haven't read the code so what I'm going to say is just the way I understand it, how can the system identify a misbehaving node? by the IP? because there is no other way (unless coded to give unique identity to each wallet - which in turn means that wallets are now having a full identity ) to identify a wallet, only the IP is logged (and scored accordingly). Maybe I will study more about that, once I'm done with the project I'm currently doing Smiley

Again to the best of my understanding, there are two or three levels of misbehavior... the sender of the money who can lose collateral if he does something evil, the node which can lose collateral for not doing the transaction correctly, and the miner who may try to forge which masternode gets paid in which case his block is orphaned and he loses the entire block.
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shahim
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June 13, 2014, 11:08:05 AM
 #962

Bittrex Exchange has successfully transitioned from CRY to CRYPT

https://bittrex.com/Market/Index?MarketName=BTC-CRYPT


So crypt is just a Name change? No Change of chain or whatever? If i buy cry at Polo I can sell them as crypt on bittrex?

fairglu
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June 13, 2014, 12:06:43 PM
 #963

Explorer updated to the new ticker name and can now be found at

http://chainz.cryptoid.info/crypt/

You can update the link in the first post Smiley

ebliever
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June 13, 2014, 12:56:46 PM
 #964

I feel the same way. Dark has yet to get its masternodes working, and if CRY's idea works then in a 1:1 contest, CRY wins hands down. Who wants to pay transaction fees to centralized nodes that may compromise anonymity compared to CRY's alternative? It will be interesting if CRY and DARK switch places then.

Fees secure the blockchain from malicious attacks. So you'd rather pay a fee rather than have a busted blockchain that got to 1 terabyte because some kid found it funny to run a script with 1000 bogus transactions per second.

Remember that you pay for your hard disk space.

50$ / 1TB = 0.05$ per 1 GB of blockchain bloat.

Multiply that with the number of users to find the collective cost of bloat.

Transaction fees are calculated and applied according to the transaction's size (in KBs) and as AlexGR said (btw, are you from Greece perhaps? Smiley ), one reason they are used, is to prevent mallicious or bogus usage of the transactions themselves. Another reason is to give an incentive to miners of PoW blocks to keep mining when the block reward has decreased to 0 ( for inflation reasons) since transaction fees are paid to the finder of the block. But that also applies to PoS (finders also are rewarded by the transaction fees of the transactions included in the block they find) and with coins that have heavy traffic can give a nice reward).

I believe what the others meant though, is that there will be no "extra" fees regarding the "anonymizing" feature that may be introduced by other coins that uses intermediate nodes, to give incentive to people to run that kind of nodes (since running one has some cost)
Thanks for catching and correcting me on this.  Smiley

I don't think CRYPT is an improvement over CRY for mass-market appeal though. Something that houses dead bodies? That's how people will perceive that symbol, rather than the reference to CRYPTOcurrency which is what I believe was intended. I mean, within altcoinland that's probably OK, but down the road we may want to revisit this as the coin succeeds.

Luke 12:15-21

Ephesians 2:8-9
xtsjyfx
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June 13, 2014, 01:00:48 PM
 #965

The price coming up quickly up to up and rise so mush....

Click here-enjoy-Pirate-coin:PwDgDPPCBxifFL8qJzJ1avih8zN8WqFRfV
filipe3x
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June 13, 2014, 01:34:08 PM
 #966

This coin is listed on cryptsy  Smiley
https://twitter.com/BitEmber/status/477443446089998336


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hashnine
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June 13, 2014, 01:35:49 PM
 #967


Woooo... nice.

 Cheesy

Careful XC anonymous coin is a scam
KingCole
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June 13, 2014, 01:55:36 PM
 #968


Nice! Not sure what just happened but someone just placed an order on Bittrex and raised the price to 0.00040. Just made a sweet 100% profit on a proportion of my bag. Now waiting to see if it dips to buy in low. Either way I'm covered and we haven't had any real news yet. This could be very big indeed.

KC
Kruemmelmonster
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June 13, 2014, 02:00:30 PM
 #969


Nice! Not sure what just happened but someone just placed an order on Bittrex and raised the price to 0.00040. Just made a sweet 100% profit on a proportion of my bag. Now waiting to see if it dips to buy in low. Either way I'm covered and we haven't had any real news yet. This could be very big indeed.

KC
yeah it will for sure. big guys are invested in crypt and if dev deliver we will see the universe Smiley
TheGift73
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June 13, 2014, 02:03:43 PM
 #970


Nice! Not sure what just happened but someone just placed an order on Bittrex and raised the price to 0.00040. Just made a sweet 100% profit on a proportion of my bag. Now waiting to see if it dips to buy in low. Either way I'm covered and we haven't had any real news yet. This could be very big indeed.

KC

Could have been someone buying up the sell book to 40k to make sure they get a decent amount of coins, knowing that they will make more than double that back down the road?

I did this on MAST a couple of times due to the coin being hard to get hold of. The market price balances again after a short while.
ReRunRod
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June 13, 2014, 02:14:54 PM
 #971


YAHOOO!!! Smiley
droop
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June 13, 2014, 02:19:20 PM
 #972

Listed on Cryptsy:

https://www.cryptsy.com/markets/view/219
Shattered
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June 13, 2014, 02:50:14 PM
 #973

Getting listed on Cryptsy is defo a positive.   Grin

fairglu
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June 13, 2014, 03:13:27 PM
 #974

Explorer updated to the new ticker name and can now be found at

http://chainz.cryptoid.info/crypt/

You can update the link in the first post Smiley

ReRunRod
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June 13, 2014, 03:21:41 PM
 #975

Explorer updated to the new ticker name and can now be found at

http://chainz.cryptoid.info/crypt/

You can update the link in the first post Smiley

Great job!!!! Cheesy
hashnine
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June 13, 2014, 03:34:09 PM
 #976

Hmmm... One hour after bittrex withdraw i receive nothing. O M G

I hope my coins are not lost.

Careful XC anonymous coin is a scam
ReRunRod
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June 13, 2014, 03:46:44 PM
 #977

Hmmm... One hour after bittrex withdraw i receive nothing. O M G

I hope my coins are not lost.

They will come to you. Give it some time..
ReRunRod
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June 13, 2014, 04:12:13 PM
 #978

@DEV

How's it going chief!? Smiley
j4r3k
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June 13, 2014, 04:22:03 PM
 #979

Please sort out the naming among exchanges.
Bittrex uses CRYPT, Cryptsy and Poloniex uses CRY...
ReRunRod
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June 13, 2014, 04:25:03 PM
 #980

Please sort out the naming among exchanges.
Bittrex uses CRYPT, Cryptsy and Poloniex uses CRY...

Indeed, it could be confusing to the newcomers and everyone dealing with this coin.
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