MicroCash - New CryptoCurrency

[GTRsdk]

I think it will be much easier for MicroCash to get new users than those who have already experienced a cryptocurrency.

When I started cryptocurrencies, I first went with SolidCoin.

The reason for that is because it worked in the Windows XP VM that I had to use (it didn't take forever to download the blocks).

And it looked kind of interesting.

[Syke]

Why is there no mention of the source code being open source?

Because it's implied it's open source? They may even be going back to a MIT license.

SC started out as open source, but then progressed to a more restricted proprietary license. It's quite logical to assume that no mention of the source code in the announcement means there will be no source code released. I know, silly of me for thinking anything about SC follows logic.

[DeathAndTaxes]

Source code =/= open source.

SolidCoin isn't open source.  It is restricted under a restrictive license.  Source code of Microsoft Windows is available under license but even Microsoft isn't blatant enough to call it open source.

[GTRsdk]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

[Starlightbreaker]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

[GTRsdk]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

So close...

[sd]

Hang on here - MicroCash isn't peer2peer and has absolute central control.

This thing isn't a cryptocurrency in any meaningful sense, it's a central database with a pretty client attached.

CoinHunter knows that most users understand little about how these things work. He intends to fool them with a pretty GUI and steal their coins with taxes they probably won't understand either. Apart from that the network is grossly insecure both to outside attacks and acts of CoinHunter.

[Nachtwind]

Wow, the ability to ban certain nodes is a heavy strike. I mean, ok, its not like in SC2 it wasnt possible but admitting that is just bad..

But now, just for once, i want to know something simple:
Whats the difference between SC3 (aka Microcrash) and Paypal? Is mining still needed? If so - why? Isnt mining just some nice cosmetical way to satisfy people and make them think that they can actually earn something off of RealSolids share? How would banning be implemented? One DB Server (or cluster) or will banning be propagated through the network and 51% of the miners have to accept a node to no longer be supported? If someone was banned: Would his coins be "tainted"?  ...

[Foxpup]

Whats the difference between SC3 (aka Microcrash) and Paypal?

PayPal isn't a pyramid scheme.

Is mining still needed?

Yes.

If so - why?

To get more people involved in the scheme in order to steal their money.

Isnt mining just some nice cosmetical way to satisfy people and make them think that they can actually earn something off of RealSolids share?

Yes.

How would banning be implemented?

Arbitrarily.

One DB Server (or cluster) or will banning be propagated through the network and 51% of the miners have to accept a node to no longer be supported?

Doesn't really matter.

If someone was banned: Would his coins be "tainted"?  ...

If by "tainted" you mean "put in the developers' pockets", then yes, most likely.

Any other questions?

[drakahn]

Hang on here - MicroCash isn't peer2peer and has absolute central control.

This thing isn't a cryptocurrency in any meaningful sense, it's a central database with a pretty client attached.

CoinHunter knows that most users understand little about how these things work. He intends to fool them with a pretty GUI and steal their coins with taxes they probably won't understand either. Apart from that the network is grossly insecure both to outside attacks and acts of CoinHunter.

welcome to solidcoin 1 and 2

[Gabi]

Hang on here - MicroCash isn't peer2peer and has absolute central control.

This thing isn't a cryptocurrency in any meaningful sense, it's a central database with a pretty client attached.

CoinHunter knows that most users understand little about how these things work. He intends to fool them with a pretty GUI and steal their coins with taxes they probably won't understand either. Apart from that the network is grossly insecure both to outside attacks and acts of CoinHunter.

/thread

[Cosbycoin]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

AUTOMAGICALLY BANS! THIS IS TOO FUNNY! NOW THEY ARE USING MAGIC IN THEIR CODE/STRUCTURE/SYSTEM!!!! NEXT IS VOODOO!

[GTRsdk]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

AUTOMAGICALLY BANS! THIS IS TOO FUNNY! NOW THEY ARE USING MAGIC IN THEIR CODE/STRUCTURE/SYSTEM!!!! NEXT IS VOODOO!

Actually, it was discovered that voodoo was too weak to do what they want. Next they will use the Force.

[Cosbycoin]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

AUTOMAGICALLY BANS! THIS IS TOO FUNNY! NOW THEY ARE USING MAGIC IN THEIR CODE/STRUCTURE/SYSTEM!!!! NEXT IS VOODOO!

Actually, it was discovered that voodoo was too weak to do what they want. Next they will use the Force.

Bro you can take you RASHCOIN and stick it where the sun don't shine =)

[coinft]

ScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here...

Code: (mining.cpp)

if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
	Sleep(100);
	continue;
}

Huh. I've always wondered how trusted mining works. Now I know! Does MicroCash work the same way?

That's so trust nodes will only bother attempting to create trust blocks which are even, the odd blocks are normal blocks. Both trust nodes/blocks and trust accounts have been removed from MicroCash due to criticism.

@Coinhunter (or whoever is playing the part)

Over on your SolidcoinTalk info I saw you posted the below as one of the "New Features" in MicroCash.

"Denial of Service code added, can now ban nodes that flood the network"

Which means you have the ability to ban specific nodes, period. The reason doesn't matter, you have that ability and your unstable history more than proves that one of the fastest ways to get banned is simply to disagree with you.

It also means this built in DDOS protection can be exploited to create all sorts of havoc. I wonder how bloated the "Ban DB" will be with maybe 100,000 banned nodes?? It only makes sense you have a central control server somewhere maintaining a database.

Peer <---> Central Control <----> Peer

Same structure as Solidcoin 2.0 except this time you're admitting it up front.

~BCX~

I think it auto bans so if it gets like a hundred thousand or so requests in 10 seconds, then it automagically bans.

More like...
Peer Control <---> Peer Control <---> Peer Control

LOL

How can we understand this?

1. In order to prevent a 51% attack, the other 51% need to agree on a ban. Unlikely if you can count.

2. Or can bans be set by minorities or single nodes? If so, even small attackers can abuse the power to ban.

3. Or, most likely, the power to ban is centralized, and its owner will dissolve this whole project soon again for yet another iteration at getting at your money.

As in SC2 the threat of a 51% attack is replaced by a much more likely and dangerous attack vector, coming from its inventor. The power to shutdown something is akin to total control, as SC2 shows pretty well. The tyrant nodes proved to be the big dangers some assumed them to be. Noone is able to continue SC2 without them. SC owners are forced out of their coins and into a totally new coin&tax scheme whether they want it or not.

-coinft.

[Kettenmonster]

No, no, ... it is all completely different!
The 51% attack is only a 51%/2 = 25% attack (it´s int ya no) because half of the blocks are always safe!
consider the code:

Code:

(pBlock->nBlockNum%2)==1 

Thus you can easily see it takes more than 100% to attack, which is of cause impossible.

[tacotime]

No, no, ... it is all completely different!
The 51% attack is only a 51%/2 = 25% attack (it´s int ya no) because half of the blocks are always safe!
consider the code:

Code:

(pBlock->nBlockNum%2)==1 

Thus you can easily see it takes more than 100% to attack, which is of cause impossible.

The same power blocks that formerly anyone could sign?

Maybe someone on the inside found a fatal security flaw in sc2 and the team is trying to move on before it is too heavily exploited.  That there is already a third sc is an admission to multiple failures, I don't know why anyone would hop on this bandwagon aside from the usual game of alt chain debut buy-sell chicken.

[Kettenmonster]

If I got the math right

Code:

(pBlock->nBlockNum%1)==0

would be much safer, wouldn´t it?

[k9quaint]

No, no, ... it is all completely different!
The 51% attack is only a 51%/2 = 25% attack (it´s int ya no) because half of the blocks are always safe!
consider the code:

Code:

(pBlock->nBlockNum%2)==1 

Thus you can easily see it takes more than 100% to attack, which is of cause impossible.

The same power blocks that formerly anyone could sign?

Maybe someone on the inside found a fatal security flaw in sc2 and the team is trying to move on before it is too heavily exploited.  That there is already a third sc is an admission to multiple failures, I don't know why anyone would hop on this bandwagon aside from the usual game of alt chain debut buy-sell chicken.

They never would have shut SC2 down otherwise.

[BadBear]

Four words of advice: "Don't get left behind.".   

lol