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

[G-Bert]

@infinitechaos Thanks for the info!

To those having Mintpal problems:
I was finally able to withdraw all my coins from Mintpal.
I had to hit the refresh button every time after the page initially loaded for it to continue with the process.
If you're having problems try that and hopefully that will work.
It took a while for the confirmation email to arrive but it did. Then I had to go through the same process to log-in and confirm.
Just successfully received my coins to my new address.

Hope Mintpal can get that stuff ironed out, but for now, I'm staying away.
Not being able to access your coins is a crappy feeling.
Just another reminder that crypto exchanges are not a wise choice for a longerm wallet.
Be smart. Take control of coins. Start staking.

I got me coins! I randomly tried the confirmation email link again and after a few login attempts it said withdrawal successfully confirmed. I guess last night with all the problems logging in it didn't actually confirm my withdrawal when i clicked the email link.

Anyway, Panic over. 

[Mountaingoat]

I have an idea that is going to be very risky for XC, but since the price of Bitcoin is dropping like domino's right now, how about the XC team requests XC to be removed from all Bitcoin exchanges and a month later puts up it's own XC/Fiat exchange, that way we will be completely independent from Bitcoin.

As I said very risky and it will take some time, but just think about this idea, I think it will do a lot of good for the future of XCuurency.

[Mountaingoat]

@infinitechaos Thanks for the info!

To those having Mintpal problems:
I was finally able to withdraw all my coins from Mintpal.
I had to hit the refresh button every time after the page initially loaded for it to continue with the process.
If you're having problems try that and hopefully that will work.
It took a while for the confirmation email to arrive but it did. Then I had to go through the same process to log-in and confirm.
Just successfully received my coins to my new address.

Hope Mintpal can get that stuff ironed out, but for now, I'm staying away.
Not being able to access your coins is a crappy feeling.
Just another reminder that crypto exchanges are not a wise choice for a longerm wallet.
Be smart. Take control of coins. Start staking.

I forgot to say, welcome to the XCurrency community, I hope you have a good time.

[tr8kr]

What to do in waiting of XC Rev 3 ... Mining Bitcoin with a paper and a pencil !

http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html

[takramltc]

I want a simple explanation

Ok, there's layer 1: the Xnode protocol
- nodes communicate with one another using an end-to-end encrypted protocol, so that anyone who intercepts their messages can't decipher them.
- nodes communicate directly; they don't use any trusted third parties or central servers. Therefore there's no one point of failure or attack.

Layer 2: an ad hoc meshnet
- when you make a private payment, the first thing that happens is that your app sets up a network with a bunch of other nodes that are making payments at the same time as you.
- this network exists only for the duration of the transaction, and thus has no permanent infrastructure that can be attacked.
- since this network is a mesh, it does not encounter problems if nodes drop out of the network during the transaction. Thus it's robust against DOS attacks (i.e when a node refuses to sign, which breaks other technologies, like CoinJoin).

Layer 3: trustless mixing
- when you make a private payment, a transaction is built up between all the nodes in a meshnet.
- they pass the transaction around in a very clever way (analogous to Coinshuffle) in order to send coins to their intended destinations on behalf of other nodes.
- once the transaction is ready, each node checks that its own coins are going to the right destination, and if all is in order, the node signs the transaction.
- the signing is done in a very clever way so that no node knows which other node's coins they're forwarding.
- the coins are forwarded to their destination from a different address to the one that a forwarding node receives them on, so that there's no link on the blockchain between sender and receiver.
- if there's a problem then a node will refuse to sign. This makes the whole transaction unable to be processed, and thus no node can steal the coins that it's forwarding on behalf of another node.
- when this occurs, the nodes are able to reverse the passing-around procedure and discover which node caused the trouble. This node gets kicked off the mesh, and the transaction proceeds as per usual.

Layer 4: multipath
- when you make a private payment, the coins aren't sent in one go, but in fragments, making it impossible for anyone to tell how much you actually sent.

The ways in which all this is private:
- multipath conceals the amount you send or receive.
- mixing conceals the sender and the receiver.
- the trustless nature of the mixing ensures that nodes can't steal coins and that they can't know whose coins they're forwarding.
- the Xnode protocol ensures that nobody can decipher any of these messages in the first place.
- in addition, using the XC TOR Stick conceals your IP address.
- and, finally, when we add stealth addresses to XC, then when someone pays you, not even they will discover the address you receive the payment on, and so you don't have to trust them to keep private the address that your coins are on.

Basically, there's nothing else to make private after all this. The entire thing is concealed; none of your personal information is given away. So it's 100% privacy.

I am just requoting this as i feel some of you may have missed it with all the MintPal woes - a brilliant explanation of XC Privacy tech at the moment - well worth spending a few minutes to understand!

Mindblown! 

[PriceSpec_]

I want a simple explanation

Best content ever.

I am just requoting this as i feel some of you may have missed it with all the MintPal woes - a brilliant explanation of XC Privacy tech at the moment - well worth spending a few minutes to understand!

Mindblown! 

Wow. Just wow.
To read it like that is definitely mindblowing.
Off to buy more.

[mr_random]

I have an idea that is going to be very risky for XC, but since the price of Bitcoin is dropping like domino's right now, how about the XC team requests XC to be removed from all Bitcoin exchanges and a month later puts up it's own XC/Fiat exchange, that way we will be completely independent from Bitcoin.

XC is decentralised by it's nature. No exchange is under obligation to honour such a removal request, it would never work.

Besides, I don't believe that would make XC completely independent of Bitcoin. If Bitcoin crashed to $1, XC would plummet no matter what.

[bitcoin carpenter]

Bit coin world feels much more like June 2013  up and down roller coaster from 80- 140 with Silk Road plunge being the final straw in September. ..  we will see a roll from 350- 550 for a while yet until we are all comfortable enough to sell to the whales at 550 just before they take bit coin to 5 thousand.

[Mountaingoat]

Bit coin world feels much more like June 2013  up and down roller coaster from 80- 140 with Silk Road plunge being the final straw in September. ..  we will see a roll from 350- 550 for a while yet until we are all comfortable enough to sell to the whales at 550 just before they take bit coin to 5 thousand.

I really doubt that will happen.

[synechist]

Bit coin world feels much more like June 2013  up and down roller coaster from 80- 140 with Silk Road plunge being the final straw in September. ..  we will see a roll from 350- 550 for a while yet until we are all comfortable enough to sell to the whales at 550 just before they take bit coin to 5 thousand.

I really doubt that will happen.

I think there's a high chance it'll happen. Elliot Wave analysis confirms this sort of price movement.

[synechist]

I want a simple explanation

Ok, there's layer 1: the Xnode protocol
- nodes communicate with one another using an end-to-end encrypted protocol, so that anyone who intercepts their messages can't decipher them.
- nodes communicate directly; they don't use any trusted third parties or central servers. Therefore there's no one point of failure or attack.

Layer 2: an ad hoc meshnet
- when you make a private payment, the first thing that happens is that your app sets up a network with a bunch of other nodes that are making payments at the same time as you.
- this network exists only for the duration of the transaction, and thus has no permanent infrastructure that can be attacked.
- since this network is a mesh, it does not encounter problems if nodes drop out of the network during the transaction. Thus it's robust against DOS attacks (i.e when a node refuses to sign, which breaks other technologies, like CoinJoin).

Layer 3: trustless mixing
- when you make a private payment, a transaction is built up between all the nodes in a meshnet.
- they pass the transaction around in a very clever way (analogous to Coinshuffle) in order to send coins to their intended destinations on behalf of other nodes.
- once the transaction is ready, each node checks that its own coins are going to the right destination, and if all is in order, the node signs the transaction.
- the signing is done in a very clever way so that no node knows which other node's coins they're forwarding.
- the coins are forwarded to their destination from a different address to the one that a forwarding node receives them on, so that there's no link on the blockchain between sender and receiver.
- if there's a problem then a node will refuse to sign. This makes the whole transaction unable to be processed, and thus no node can steal the coins that it's forwarding on behalf of another node.
- when this occurs, the nodes are able to reverse the passing-around procedure and discover which node caused the trouble. This node gets kicked off the mesh, and the transaction proceeds as per usual.

Layer 4: multipath
- when you make a private payment, the coins aren't sent in one go, but in fragments, making it impossible for anyone to tell how much you actually sent.

The ways in which all this is private:
- multipath conceals the amount you send or receive.
- mixing conceals the sender and the receiver.
- the trustless nature of the mixing ensures that nodes can't steal coins and that they can't know whose coins they're forwarding.
- the Xnode protocol ensures that nobody can decipher any of these messages in the first place.
- in addition, using the XC TOR Stick conceals your IP address.
- and, finally, when we add stealth addresses to XC, then when someone pays you, not even they will discover the address you receive the payment on, and so you don't have to trust them to keep private the address that your coins are on.

Basically, there's nothing else to make private after all this. The entire thing is concealed; none of your personal information is given away. So it's 100% privacy.

I am just requoting this as i feel some of you may have missed it with all the MintPal woes - a brilliant explanation of XC Privacy tech at the moment - well worth spending a few minutes to understand!

Mindblown! 

Thank you guys! I'm always uncertain how this stuff comes across, since it's so non-technical.


Tweeted: https://twitter.com/XCurrency/status/516326578624942080

[ssmc2]

Bit coin world feels much more like June 2013  up and down roller coaster from 80- 140 with Silk Road plunge being the final straw in September. ..  we will see a roll from 350- 550 for a while yet until we are all comfortable enough to sell to the whales at 550 just before they take bit coin to 5 thousand.

I really doubt that will happen.

I think there's a high chance it'll happen. Elliot Wave analysis confirms this sort of price movement.

I agree and I have a feeling it will actually go much higher than 5k on the next surge. When that happens buckle your belts because the subsequent correction and next rise will make the past year seem quaint.

[Mountaingoat]

Bit coin world feels much more like June 2013  up and down roller coaster from 80- 140 with Silk Road plunge being the final straw in September. ..  we will see a roll from 350- 550 for a while yet until we are all comfortable enough to sell to the whales at 550 just before they take bit coin to 5 thousand.

I really doubt that will happen.

I think there's a high chance it'll happen. Elliot Wave analysis confirms this sort of price movement.

I agree and I have a feeling it will actually go much higher than 5k on the next surge. When that happens buckle your belts because the subsequent correction and next rise will make the past year seem quaint.

I hope you guys won't mind that if Bitcoin reaches 5k I will cash out my XC or at least a part of it, that way when it goes down I can buy back in again.

[bitcoin carpenter]

Lol just dont sell at 750 buy at 800 sell at 850 buy at 900 sell at 1000 buy at 1600 sell at 2k buy at 4k hold until 1500 then sell.... cursing your luck and waiting for the next bubble, like most people in there first bubble.

[Mountaingoat]

Lol just dont sell at 750 buy at 800 sell at 850 buy at 900 sell at 1000 buy at 1600 sell at 2k buy at 4k hold until 1500 then sell.... cursing your luck and waiting for the next bubble, like most people in there first bubble.

I won't.

[ForReal]

Can anybody explain how "your weight" and "network weight" is calculated ? What is the formula ?

What is relationship between those two ?

Please don't troll. Thank you

Not sure if Dan or anyone else has ever given the formula but in my experience, as your weight increases, you get closer to your next stake reward.  This may not always be true though.

Can't answer you question but is has been a long time sinds if seen trolling going around here
I would like to know it myself also  

Yes I would like to know the exact formula too.

It seems like something like "your coin age" X "Staking amount"

But how is the "net work weight" calculated ? Is it the aggregated weight of all individual wallet weight ?

Can Dan or somebody explain this a little bit ?

Pump

Can someone help us with those questions ?

Thank you

[sugarboy321]

An article was written back in July regarding bitcoin for oil, I'd like to see XC for oil.

http://bqdoha.com/2014/08/bitcoins-oil-yes

[mgmacri]

Hi,

I'm a developer from Canada and I was wondering where I could find more information about XC's Rev 1 blockchain and the database behind it. I was hoping to locate a source.

Thanks!

[reebokasss]

i dont know what need to happen that BTC would be 5k $ .. everyone throught that we will see ATH in summer but summer ends and we have 380$ price, so.. what news about rev2.5 , rev3 ? will we see rev3 in autumn (like Teka said), because two months left in autumn

[cryptico]

i dont know what need to happen that BTC would be 5k $ .. everyone throught that we will see ATH in summer but summer ends and we have 380$ price, so.. what news about rev2.5 , rev3 ? will we see rev3 in autumn (like Teka said), because two months left in autumn

My only explanation is that BTC at the end of the Day untill super  venture capitalists will put their money into it is a whale game and whales will not allow to destroy their fav game to make profit hence at the moment they are accumulating before pushing the price to new ATH