[ANN] SpreadCoin | True Decentralization (No Pools) | Testing New Masternodes

[gjhiggins]

To this day no one has found a single SHA 256 collision, but what if that changes?

I was talking about fundamental flaws in the mathematics behind hashing algorithms that we may not know of yet.

If you dig around in the crypto literature, you'll probably find that the general understanding is that such breakthroughs are just not the way cryptanalysis works. Experience thus far is all about incremental reductions in strength, to a point where the community begins to agree that migrating away would probably be a Good Idea(tm). SHA1 hasn't actually been broken, it's “merely” considered too weak for some of the cryptography purposes for which it used to be used. AIUI it's still a valid option for hashing, that aspect of SHA1 security remains adequately secure.

There's a bunch of must-read info on the SHA-3 Zoo wiki --- http://ehash.iaik.tugraz.at/wiki/The_SHA-3_Zoo

Cheers

Graham

[georgem]

To this day no one has found a single SHA 256 collision, but what if that changes?

I was talking about fundamental flaws in the mathematics behind hashing algorithms that we may not know of yet.

If you dig around in the crypto literature, you'll probably find that the general understanding is that such breakthroughs are just not the way cryptanalysis works. Experience thus far is all about incremental reductions in strength, to a point where the community begins to agree that migrating away would probably be a Good Idea(tm). SHA1 hasn't actually been broken, it's “merely” considered too weak for some of the cryptography purposes for which it used to be used. AIUI it's still a valid option for hashing, that aspect of SHA1 security remains adequately secure.

There's a bunch of must-read info on the SHA-3 Zoo wiki --- http://ehash.iaik.tugraz.at/wiki/The_SHA-3_Zoo

Cheers

Graham

Very cool, thanks for the link.

The thing is, we don't know if there couldn't one day be a large enough decrease in strength for a widely used hashing algorithm, and we can't always expect that...

a) a better (and more thoroughly tested) algorithm will be ready at that moment, and...

b) that we will always have early enough warning signs and a long enough transition time between the old and new algorithm so that any potential damages can be constrained.


Therefor I say: crypto for retirement? Not recommendable.

[coins101]

-snip-
Therefor I say: crypto for retirement? Not recommendable.

Let me change your mind.

The thinking goes like this:

* Cash is going out of fashion. The more we use mobile devices, the sooner physical cash will be extinct.

* Crypto will be able to compete with any electronic payment tool. It's only a matter of time, brand trust, utility and added services.

* If you use crypto to buy things with, you will get change. Send back change to a long-term savings account, and over 50 years you could probably save the equivalent of $5/day from $0.20 here and $0.50 there being automatically credited from your purchases of ice cream, beer, burgers to petrol.

* Secure those funds with an escrow arrangements 'with yourself', to not touch the funds in your long-term savings / pension address for 30-50 years, and your funds would become eligible for pension tax relief, and possibly top-ups from the state.

* Now, pensions require index linked growth. So, send funds to an accredited ETF that tracks the top 100 stocks in your country and you have a two-way relationship with an investment tracker that you can't access, for general spending, for 30-50 years.

* Your ETF will earn dividends, these can be reinvested or sent to your pension address. This means that the funds don't need to always sit on a blockchain. They can go off somewhere else and come back, or be sent to fiat provided that there are arrangements to send funds to a pension accredited location.

I see no reason why you can't use spare change to generate a pension pot of $200k to $500k.

There are a few details that need ironing out, but otherwise it's Simples.

[Halofire]

SNIP

Therefor I say: crypto for retirement? Not recommendable.

^^ Wow... This statement speaks volumes.

[coins101]

SNIP

Therefor I say: crypto for retirement? Not recommendable.

^^ Wow... This statement speaks volumes.

There are tons of people now looking at crypto, from an academic level all the way through to a commercial IBM level. The amount of investment in the underlying technologies is only just beginning. Who knows where we will be in 12 months time, let alone 20 years time.

[defunctec]

SNIP

Therefor I say: crypto for retirement? Not recommendable.

^^ Wow... This statement speaks volumes.

Who knows where we will be in 12 months time, let alone 20 years time.

Are you referring to the servicenode release date? 

[AnotherNode]

-snip-
Therefor I say: crypto for retirement? Not recommendable.

Let me change your mind.

The thinking goes like this:

* Cash is going out of fashion. The more we use mobile devices, the sooner physical cash will be extinct.

* Crypto will be able to compete with any electronic payment tool. It's only a matter of time, brand trust, utility and added services.

* If you use crypto to buy things with, you will get change. Send back change to a long-term savings account, and over 50 years you could probably save the equivalent of $5/day from $0.20 here and $0.50 there being automatically credited from your purchases of ice cream, beer, burgers to petrol.

* Secure those funds with an escrow arrangements 'with yourself', to not touch the funds in your long-term savings / pension address for 30-50 years, and your funds would become eligible for pension tax relief, and possibly top-ups from the state.

* Now, pensions require index linked growth. So, send funds to an accredited ETF that tracks the top 100 stocks in your country and you have a two-way relationship with an investment tracker that you can't access, for general spending, for 30-50 years.

* Your ETF will earn dividends, these can be reinvested or sent to your pension address. This means that the funds don't need to always sit on a blockchain. They can go off somewhere else and come back, or be sent to fiat provided that there are arrangements to send funds to a pension accredited location.

I see no reason why you can't use spare change to generate a pension pot of $200k to $500k.

There are a few details that need ironing out, but otherwise it's Simples.

ah, ok. I'm interested in pensions now.

[coins101]

What is the practical implication of introducing more than one ServiceNode network?

Let's say, for example only, there is a ServiceNode network that does everything at the start, but once a particular service becomes very popular, it can be sectioned off on its own, still within SPR, with a new ServiceNode network created to do the job of running everything else.

Once the next service becomes very popular, create another service specific network, still within SPR.

I don't mean forks. I mean expansion within the overall network.

Why?

* Well, we can create a very scalable, endlessly scalable, network. We can also protect services from each other, and you could also create redundancy or a plan B.

* It would also make attacks very difficult.

* I'm not 100% sure that the limiting of servicenodes to 1440 or 2000 is the best approach. In the short to medium term, I guess it's not a big issue. Long term? Not sure.

* It would enable Angel investors to put money into targeted areas. People who want investors to help them fund a servicenode can show what the funds are going to be used for and also the opportunity that will be derived from a particular segment of the market.

* The main problem is maintaining the various networks, I guess.

[DogTheHunter]

Got some Spreadcoins now 

When does master node testing start?

[Halofire]

Got some Spreadcoins now 

When does master node testing start?

Or the new Ann/OP? It's been ~60 days since Mr. Spr left the building. New dev team wanted 30 days after Mr. Spr left to do a new Ann/OP. Lot's of discussion on what to do with the nodes, but no action from what I see.

[coins101]

Very decent distribution, ATM

[defunctec]

Got some Spreadcoins now 

When does master node testing start?

Or the new Ann/OP? It's been ~60 days since Mr. Spr left the building. New dev team wanted 30 days after Mr. Spr left to do a new Ann/OP. Lot's of discussion on what to do with the nodes, but no action from what I see.

That's the problem atm.

Topic: DRAFT for new ANN thread / Website  (Read 538 times)
Last comment was the 9th...

Anyone out there that could help push this along?

[coins101]

Got some Spreadcoins now 

When does master node testing start?

Or the new Ann/OP? It's been ~60 days since Mr. Spr left the building. New dev team wanted 30 days after Mr. Spr left to do a new Ann/OP. Lot's of discussion on what to do with the nodes, but no action from what I see.

That's the problem atm.

Topic: DRAFT for new ANN thread / Website  (Read 538 times)
Last comment was the 9th...

Anyone out there that could help push this along?

I know Georgem will be working on the things he said. The trouble is this - once you know Georgem, you have to expect a desire to do a great job. No half-baked solutions will do. That, I'm afraid to say, takes a little time.

Me, I would have slapped something together as a working draft and built on it. But first impressions count - so, let's wait.

[Halofire]

Got some Spreadcoins now 

When does master node testing start?

Or the new Ann/OP? It's been ~60 days since Mr. Spr left the building. New dev team wanted 30 days after Mr. Spr left to do a new Ann/OP. Lot's of discussion on what to do with the nodes, but no action from what I see.

That's the problem atm.

Topic: DRAFT for new ANN thread / Website  (Read 538 times)
Last comment was the 9th...

Anyone out there that could help push this along?

I know Georgem will be working on the things he said. The trouble is this - once you know Georgem, you have to expect a desire to do a great job. No half-baked solutions will do. That, I'm afraid to say, takes a little time.

Me, I would have slapped something together as a working draft and built on it. But first impressions count - so, let's wait.

Ya well, the difficulty almost dropped into the 3's today.... lowest it's been that I know of.

[entropycoin]

from a purely selfish standpoint, I've embraced the delay of the creation of the new Ann thread, as its certainly facilitated the accumulation of a nice stake in this project at bargain basement levels, but I think we're getting to the point where it should just happen soon.  

When investing in this project I don't think it's a matter of "will the creation of a new ann thread and successful implementation of service nodes raise the price of spr comparatively to that of similar coins?"  There is no question it will.  I think the majority of those selling at these levels question, will this ever happen?  

The first step in raising investor confidence and more importantly attracting the attention of potential contributors of ideas and development (not necessary, but certainly an added bonus) is rolling out the new ann thread.  This doesn't need to be a static roadmap to the coin's future, but at the very least a working link to download the wallet.  

[georgem]

SNIP

Therefor I say: crypto for retirement? Not recommendable.

^^ Wow... This statement speaks volumes.

Ever heard of risk vs reward?

Investments for retirement should always be something with minimum risk, not maximum risk.

Who in their right mind thinks about their older parents and finds it a good idea for them to invest in crypto?

I certainly don't.

I know how important and groundbreaking crypto coins are, but I understand the extreme investment risks involved.
(not so much technological risks, but price fluctuation)

Those extreme risks are fine with me and my own personal investment in spreadcoin, which is why I am 100% invested in it.
So yes, risk is not a problem per se, but risk is a problem when people (especially older people) are fooled into thinking it is a safe low risk asset.
Which it is not.

[georgem]

I know Georgem will be working on the things he said. The trouble is this - once you know Georgem, you have to expect a desire to do a great job. No half-baked solutions will do. That, I'm afraid to say, takes a little time.

Me, I would have slapped something together as a working draft and built on it. But first impressions count - so, let's wait.

Thanks for your confidence.

I will need to adjust my plan a little bit and make more smaller steps, so that progress is more visible.

Stay tuned.

[Halofire]

SNIP

Therefor I say: crypto for retirement? Not recommendable.

^^ Wow... This statement speaks volumes.

Ever heard of risk vs reward?

Investments for retirement should always be something with minimum risk, not maximum risk.

Who in their right mind thinks about their older parents and finds it a good idea for them to invest in crypto?

I certainly don't.

I know how important and groundbreaking crypto coins are, but I understand the extreme investment risks involved.
(not so much technological risks, but price fluctuation)

Those extreme risks are fine with me and my own personal investment in spreadcoin, which is why I am 100% invested in it.
So yes, risk is not a problem per se, but risk is a problem when people (especially older people) are fooled into thinking it is a safe low risk asset.
Which it is not.

That's not solely why I quoted you but you clarified more in depth where you were coming from with your statement. All is well. Thanks for taking the minute to respond.

[coins101]

SNIP

Therefor I say: crypto for retirement? Not recommendable.

^^ Wow... This statement speaks volumes.

Ever heard of risk vs reward?

Investments for retirement should always be something with minimum risk, not maximum risk.

Who in their right mind thinks about their older parents and finds it a good idea for them to invest in crypto?

I certainly don't.

I know how important and groundbreaking crypto coins are, but I understand the extreme investment risks involved.
(not so much technological risks, but price fluctuation)

Those extreme risks are fine with me and my own personal investment in spreadcoin, which is why I am 100% invested in it.
So yes, risk is not a problem per se, but risk is a problem when people (especially older people) are fooled into thinking it is a safe low risk asset.
Which it is not.

Very hard to disagree with that.

However, look at internet stocks. Back in the late 1990s and early 2000s you would have said the same thing about internet stocks. Now look at them, the wild swings in valuations have normalised and the idiotic businesses have all gone (mostly).

What is left are investors asking serious questions about cash flow, profit, added value, realistic business plans, etc; but most importantly, there is a healthy and growing tech sector that is part and parcel of everyday investment planning.

Crypto needs to go through this exploratory cycle to find the core applications that are sustainable over the longer-term. But crypto itself is here to stay. Build a compelling proposition, a trusted infrastructure, applications with longevity,  and we can be here over the longer-term.  

[georgem]

That's not solely why I quoted you but you clarified more in depth where you were coming from with your statement. All is well. Thanks for taking the minute to respond.

Ah ok, well then I take the sharpness in my comment back!