[XC][XCurrency] Decentralised Trustless Privacy Platform / Encrypted XChat / Pos

[Driv3n]

Personally not a fan of XCent, but XClouds sound cool.

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[milkyway]

XCent sounds cheap (I'm sorry), But XCloud is really cool though.
just my 2Cents.

[Jimmy2011]

After sitting on this quite a bit last night, I really began to see exactly what the Developer has in mind so I will try to explain it the simplest and best that I know so others may begin to understand more.  
ATC, please comment whether this is on the right track or not as I am trying to clear some things up.

The Xnode
1. Every wallet on the network is capable of being an "Xnode" depending on the amount of coins that are held in that wallet - current suggested is 1000 minimum, but that may change.  
2. The "Xnode" is essentially a decentralized mixer that passes the transactions through to the next "Xnode" until it is received by the intended target.
3. Keeping your wallet open without the "Xnode" option will pay the 3.33%/yr POS.
4. Keeping your wallet open with the "Xnode" option engaged will pay additional transaction fees on top of the POS.
5. Acting as an "Xnode" will incentive users to keep wallets open and active strengthening network security.

A concern that was raised yesterday was that the pass through transactions are visible to users, and that a wallet modification would be able to intercept and steal the coins.  This is where the muli path paradigm comes into play, along with the additional network layer or "XC Alpha".

1. According to the OSI Model - http://encyclopedia2.thefreedictionary.com/OSI+model - There are 7 Layers to the Network stack.  The currently titled "XC Alpha" will add an 8th layer that will essentially come in between layer 2 and 3. The initial request and encryption is initiated on this layer putting the transaction in motion.
2. Once the transaction is initiated, an on demand  "Xtunnel" will be created connecting the requester to the Xnode pool. It is within this tunnel that transactions are transactions are submitted to the pool network where the coin mixing is processed and deliverd to the receiver.

At the current time, The additional layer is not in place and that is why users can see transaction processed through their wallets, and they are currently unencrypted??  Once the "XC Alpha" has been fully integrated, users will not see the transaction as they currently do, but they will see it in a similar way that they see the current POS transaction.  These transactions will be fully encrypted and the possibility of stealing the transaction as mentioned would be nullified.  
The transactions should be represented in the users wallet not as "mined" but as something simply like "X" (just a suggestion).  In this manner, they will be able to see that the XNODE is actually working and paying out as promised.

I hope I am on track here, and I hope this helps to understand more.  once again, if ATC would care to comment, edit, or tell me I am full of shit, feel free.

ATCsecure, is this on track?

Yes it is pretty close to being on track, the current release is using encryption on the new protocol, since the xnode is your wallet, your going to see transactions, however, the multi-path has not been implemented yet, once that is done it is a different game as the xnodes relay the tx across multiple xnodes, so even if you see the transactions in your wallet, your just a middleman for 2 different xnodes....

1) Is the mixing tx "instant"? How long will it take for the mixing tx according to block time, 1 block, 2 block, 3 block, or 10 blocks, 100 blocks? What I mean is the "mixing process", not the confirmation time.

2) If I want to pay a merchant and want to send the coins via xnode "mixing" service, can I show and verify my tx to the merchant? If my understanding is right, the tx input to the merchant is not my address.

3) As a middleman, if some illegal tx, for example, drug service, is transferred through my wallet, so I'm so risky to open the xnode.

I think I haven't understand xnode logic, so please correct me about the above questions.

Thank you.

[digicidal]

1) Is the mixing tx "instant"? How long will it take for the mixing tx according to block time, 1 block, 2 block, 3 block, or 10 blocks, 100 blocks? What I mean is the "mixing process", not the confirmation time.

2) If I want to pay a merchant and want to send the coins via xnode "mixing" service, can I show and verify my tx to the merchant? If my understanding is right, the tx input to the merchant is not my address.

3) As a middleman, if some illegal tx, for example, drug service, is transferred through my wallet, so I'm so risky to open the xnode.

I think I haven't understand xnode logic, so please correct me about the above questions.

Thank you.

I have no idea about #1 obviously so I'll just comment on the other two points from my perspective.

If you are dealing with a 'merchant' who is going to require confirmation of payment - or who you are concerned with defrauding you based on claims of non-payment - then you will most likely be wanting to avoid anonymous payments under any circumstances.  However, despite the fact that it would largely invalidate the 'anonymous' aspect - you could add signed message with a previously agreed upon 'identifier' to prove it was you to the recipient.

Again - the real-world cases where you don't want anyone to know who you sent money to, but you want to be able to prove the fact that you sent money to them... it's pretty much a catch-22.

As far as #3, unless you are also being a middle-man for the drugs themselves (mule) - you are doing nothing different than the routers and switches at all the ISPs along the route between nodes that the data is travelling - with no logged information identifying the parties on either end, and no way of being able to 'read' the purpose of the payment, I can see no legal precedence for prosecution.

Were all Bitcoin wallets responsible for Silkroad?  They were essentially providing proof of payment for those transactions after all... which is all you would really be doing as an xnode.  

[jasinlee]

Sometimes I just love you guys, I leave for half the night and come back to cheap XC. *hugs*

[provenceday]

  we will back soon after dev's next update.

[666try]

we will back soon after dev's next update.

I wonder when is it?

 

[CrazyLeoW]

we will back soon after dev's next update.

I wonder when is it?

 

Forget the current price, since it's for accumulation.
My rank in Rich List has been falling for 2 days, and I think it's good thing for XC.

[666try]

we will back soon after dev's next update.

I wonder when is it?

 

Forget the current price, since it's for accumulation.
My rank in Rich List has been falling for 2 days, and I think it's good thing for XC.

I hope you're right..

but price down and down...

where's floor...

[benthach]

i don't see a legitimate corporation or business would use something like Darkcoin. i picture a big black atm in the dark corner, if it even succeed. walk to Mcdonald, hey do you accept Dark? LOL, just don't sound right.

PS:
I hope everybody understand why the DRK trolls are here.
DRK was called XCoin (XC) before it got renamed...
The poor peepz just want their name back

yub dark is a bad choice of name for something that you would want every one to use.
xc is more neutral.

[arieq]

It's down to 154k sats, people start to panic, whales getting happier, lol..

[CrazyLeoW]

we will back soon after dev's next update.

I wonder when is it?

 

Forget the current price, since it's for accumulation.
My rank in Rich List has been falling for 2 days, and I think it's good thing for XC.

I hope you're right..

but price down and down...

where's floor...

You don't need to know that, since we all know there's no ceiling for xc.

[hunterwolf]

we will back soon after dev's next update.

I wonder when is it?

 

Forget the current price, since it's for accumulation.
My rank in Rich List has been falling for 2 days, and I think it's good thing for XC.

maybe you right(i hope)

but why XC haven't any buy support. where are you come so many dumping coin.
i'm worried right now. and i know more people there is like me.
so not seems good.

[kindofasaint]

You don't need to know that, since we all know there's no ceiling for xc.

If that is a CrazyLeoW original then congrats to you, love it.

[AlexGR]

It's down to 154k sats, people start to panic, whales getting happier, lol..

It depends whether the whale is a bagholder seeing his other XCs getting depreciated.

There was too much bagholding to begin with with people here having 300-400k coins and price suddenly spiking and becoming very tempting to dump a lot and fast, knowing that if you don't dump first, another bagholder might do it - so it's a competitive game of who dumps first while not getting excessively greedy.

[arieq]

we will back soon after dev's next update.

I wonder when is it?

 

Forget the current price, since it's for accumulation.
My rank in Rich List has been falling for 2 days, and I think it's good thing for XC.

maybe you right(i hope)

but why XC haven't any buy support. where are you come so many dumping coin.
i'm worried right now. and i know more people there is like me.
so not seems good.

Many said they're happy coz they can buy cheap coins right now, but no buy support as far as i can see, only massive coins dump every 2 or 3 minutes, so where's the people ? come on show your support

[provenceday]

we will back soon after dev's next update.

I wonder when is it?

 

Forget the current price, since it's for accumulation.
My rank in Rich List has been falling for 2 days, and I think it's good thing for XC.

maybe you right(i hope)

but why XC haven't any buy support. where are you come so many dumping coin.
i'm worried right now. and i know more people there is like me.
so not seems good.

Many said they're happy coz they can buy cheap coins right now, but no buy support as far as i can see, only massive coins dump every 2 or 3 minutes, so where's the people ? come on show your support

no reason to dump your coin at this price, because we know we will back to 0.01 after 3 weeks.

also it's obvious there are many manipulations on mintpal.

 

take it easy, check this post 3 weeks later.

[damiano]

Honestly I think we are going quite a bit lower.  We're weeks away from the finished product.  Just get ready to accumulate. 

Also point your miners at crypto alts

[heartastack]

I plan to profit from the current mastiffcoin pump and double my XC

[cryptoholic11]

Honestly I think we are going quite a bit lower.  We're weeks away from the finished product.  Just get ready to accumulate. 

Also point your miners at crypto alts

finished product? Nothing in crypto will ever be a finished product.
And weeks..I thought we were going to see an update by next week? A lot of XCers say this coming week is going to be huge.