★[ANN] [NAV] NAV COIN - Community Fund Live!!!

[Remy_5]

With vulnerability like this - this coin doesn't have any chance.
Fuck it. I had high expectations with this coin.

The question is - are all PoS coins vulnerable to double spending like Navajo?

The More coins one person holds the more control they will have on the network.  Sadly!

A big problem.

How can you prevent this from happen again?

Increase the number of confirmations, imho is just a short-term solution.

Maybe even set a ceiling on the stack, so as to limit the power of those who have more, it might help a little.
(Or not a linear function but logarithmic)

Another way of control would need a periodic external confirmation of blockchain, what do you think of an
auto checkpoint system, it might help?

[m3]

trading on bittrex. dumping and dumping 

[GREEDYJOHN]

why the F people using big assed coloured text man jeez. And yeh for all we know dev is in on this, the dude does have a point. Seems pretty shady all the build up to this and then boom this happens. Not saying it's true but anyone's gonna ask questions.

IT IS THE SHADY WORK OF WHALES.

[cyberhacker]

ONE THING WE HAVE TO UNDERSTAND


WE ARE NOT TRADING COINS, BUT ONLY FIGURE (LEDGER) ON EXCHANGES.

ONLY YOU ACCESS TO HOT/COLD ADDRESS WHEN YOU DEPOSIT AND WITHDRAW.

THE ATTACKER SUCCESSFULLY DEPOSITED WITH forked coin (by 51% staking coins)

so problem is most coins on exchanges (not staking)

and attacker has more than 51% STAKING coins.


so!

the attacker was holding and still is holding a large amount of coins for sure.

what he dumped is just figure he got by deposited forked NAVAJO

buyers got figure and bittrex is short of BTC.

[cyberhacker]

old stories happend to C2, VRC and now NAVAJO

C2 was attacked because there was a bug in its code base, not because PoS itself. PoS has been proven to be very difficult to attack in a brute-force way.
So there is also a security hole in NAVAJO?

READ MY POST AGAIN.

THIS IS THE SAME STORY WITH c2

BUT NOT VRC,  that is my mistake.

it is not about CODE, BUT ABOUT POS

[GREEDYJOHN]

It's not about 970k NAV, it's about the COIN BEING VULNERABLE TO ATTACKS.

THE COIN WILL NOT BE VULNERABLE TO ATTACKS IF MORE PEOPLE STAKE IN WALLET, simple these are growing pains and if devs are legit they will show how much progress there making in Anon features and will restore faith in coin, and if they did the double spend attack they will try to re-assure us with vauge updates until the buying volume evaporates and the coin dies

Its all in the devs hands now, nothing more we can do.... SAD DAY IN CRYPTO

What meds are you on Sad day in crypto. BLA BLA BLA!!! It's only facking 9BTC. What the hell are you talking about idiot

actually its only 4btc at this price, if its such a little amount then why dont DEVs go ahead with release of BETA ANON? that would surely be the best thing right now!

HONESTLY I JUST WANT TO SEE SOME PROOF THE ANON IS BEING DEVELOPED

and guess what guys, CATS OUT OF THE BAG, dev pm'd me and asked that i wait 7 more hours for update, WHY WOULD HE DO THAT IF HE WASNT TRYING TO DOUBLE SPEND HIS ASS OFF

YOU LIAR!

[kotwica666]

TRADING ON BITTREX IS UP AND HEALTHY

healthy?   -70%

[Crypto_Shark]

Holy shit the buying opportunity of the year right here

[Mehqods]

This coin sucks. The dev scammed and is part of the 900k double spend attack. Sell now before he decided to cash out more. Nav is a scamcoin

+1
they pity a few BTC to buy off 970k NAV and instead want to hard fork the chain

[robdark]

why the F people using big assed coloured text man jeez. And yeh for all we know dev is in on this, the dude does have a point. Seems pretty shady all the build up to this and then boom this happens. Not saying it's true but anyone's gonna ask questions.

IT IS THE SHADY WORK OF WHALES.

Bro you got 'Nav - the unbreakable code in your signature. Well it's no longer unbreakable is it.

[richiela]

All, i'd like to clarify a couple things.

1) This was a deliberate attack on the NAV network.  The doublespend was credited to a new account and this was their only transaction

BTC-NAV   LIMIT_SELL   98353.17816020   0.00000000   0.00000830
BTC-NAV   LIMIT_SELL   934620.00000000   98353.17816020   0.00000890
BTC-NAV   LIMIT_SELL   934620.00000000   934620.00000000   0.00008900
BTC-NAV   LIMIT_SELL   3000.00000000   0.00000000   0.00001101

You can track the "real" 937k by following its movements from this txid:

Where the coins came from and you can see the real and orphanded outputs http://cryptexplorer.com/tx/afa39d4679bc3df7654e5b7fb0f73d37ad3a8485f290c250ad92161ba56b3f00#o1

2) We did not go public with this information.   We have been working privately with the devs all day trying to understand what happened and if we could come to some kind of resolution to recover the funds.  It us unfortunate that it went public and generating fud now.

3) All coins will be replaced or honored one way or another.

thanks,
richie@bittrex

[GREEDYJOHN]

why the F people using big assed coloured text man jeez. And yeh for all we know dev is in on this, the dude does have a point. Seems pretty shady all the build up to this and then boom this happens. Not saying it's true but anyone's gonna ask questions.

IT IS THE SHADY WORK OF WHALES.

Bro you got 'Nav - the unbreakable code in your signature. Well it's no longer unbreakable is it.

The code has not been implemented yet. Dev cannot do upgrades until this mess is sorted. Please remember that most successful coins have had their dark days.

[cyberhacker]

THIS IS A KNOW FLAW WITH POS, if not enough people are staking then these double spend attacks can happen, all thats needed to make NAV secure again is to have more people stake in wallet, SIMPLE FIX!

and now with no one dumping there double spend, we might actually see a REAL rise for NAV, this one will be interesting thats for sure....

...o and remember today when i said i had my gun ready instead of my popcorn, im getting close to using it

not that simple

there is still a unsolved problem.

we have to cover 900k NAVAJO.

cuz bittrex owe that  amount to buyers.

but if bittrex or dev/community can adopt my solution here:

1. buy 900k NAVAJO at this rate or even lower, cuz panic trading.  that mean with few BTC, the loss can be cover.
2. hard fork immediately with remedy to secure the network.

but no way to block out the attacker.

[crushwilliam]

Guys please stop flooding this thread.
Let do a hard fork like what VRC does and solve this issue.
I am still holding my NAVs.

[robdark]

Let this dev buy 900k nav and stabilize this market.

[cyberhacker]

If attacker is holding NAV coins can you go into the blockchain and void his coins then fix all accounts?

not quite possible.

actually this attack is not exactly a disaster. it is 9 btc bittrex lost.

what really matters is dev's anon feature.

[GREEDYJOHN]

This is the work of WHALES. They have erected a sell wall at 675 Satoshi, to create panic dumping. I WILL NOT DUMP!

[m3]

richie please remove this scamcoin from bittrex.

[iaminitnow06]

I don't know if this thread is full of small kids   Yes what happened should not have happened but can I ask were you staking at the time of the double spend This could have been avoided if you have been staking. Simple. So withdraw from the exchanges and stake. DO not feed the whales.

[cienki7]

All, i'd like to clarify a couple things.

1) This was a deliberate attack on the NAV network.  The doublespend was credited to a new account and this was their only transaction

BTC-NAV   LIMIT_SELL   98353.17816020   0.00000000   0.00000830
BTC-NAV   LIMIT_SELL   934620.00000000   98353.17816020   0.00000890
BTC-NAV   LIMIT_SELL   934620.00000000   934620.00000000   0.00008900
BTC-NAV   LIMIT_SELL   3000.00000000   0.00000000   0.00001101

You can track the "real" 937k by following its movements from this txid:

Where the coins came from and you can see the real and orphanded outputs http://cryptexplorer.com/tx/afa39d4679bc3df7654e5b7fb0f73d37ad3a8485f290c250ad92161ba56b3f00#o1

2) We did not go public with this information.   We have been working privately with the devs all day trying to understand what happened and if we could come to some kind of resolution to recover the funds.  It us unfortunate that it went public and generating fud now.

3) All coins will be replaced or honored one way or another.

thanks,
richie@bittrex

Thanks for clarification richie! I am sure NAV will recover soon.