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Author Topic: Get Ready for "MicroCash" : The most advanced Crypto-based Currency yet!  (Read 14255 times)
str4wm4n
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May 14, 2012, 03:30:01 AM
 #81

The dev team is polishing things up before release.  As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....

I don't see what a comprimised account has to do with the technology of bitcoin.  The theft is more about the security at bitcoinica.  It just so happened BTC were involved.

Regardless if MC is more secure or not, in order for these "currencies" to succeed, they need to be accepted at a wide variety of vendors commonly used by the public.  Where is MC accepted?

lol, i can imagine how that goes

email to store "Do you accept microcash?"
store searches for microcash "MICROCASH IS A SCAM!"
store emails back "...no"

LOL exactly...
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May 14, 2012, 04:36:06 PM
 #82

are we googlebombing microcash is a scam?



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Cosbycoin
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May 14, 2012, 07:47:12 PM
 #83

are we googlebombing microcash is a scam?




Googlebombing is such ineloquent term, we're merely enhacing Google's search results for Microcash is a Scam, that's all.


 Grin Grin Grin

~BCX~

Yup just like my subject line above!
Fiyasko
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June 02, 2012, 03:16:42 AM
 #84

The dev team is polishing things up before release.  As the MicroCash.org site states, the release was scheduled around the "tenth". Tell me this, what is up with that recent theft of over 18,000 BTCs??? Just another reason why it is time to move on with improved technology....

Oh
My
FUCKING
God.

When do we get to hit people for stating that False Statement that "bitcoin was hacked and 18,000btc were stolen"

BITCOINICA<---- THE WEBSITE, BUILT BY A NINETEEN YEAR OLD PERSON, WAS HACKED. AND THE BITCOINICA ACCOUNTS WERE ATTACKED.

NOTHING about bitcoin was threatened.

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
LoupGaroux
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June 02, 2012, 04:36:39 AM
 #85

By the same token... December 17, 2038, is also "close to the tenth" of something.

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sd
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June 11, 2012, 11:51:32 PM
 #86


*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.

A few of the alternate chains tried that, it caused a lot of forked blocks due to everyones clocks being set differently.

*) Resistant against 51% mining attacks. Money is used to help solve block disputes but now nearly everyone can contribute to this process instead of only a few trust nodes.

There is no sensible way that can work.

*) A new way to send/recv funds securely over the MicroCash network, meaning you can download the client and be sending/receiving cash within seconds. No blockchain download required

You mean a lite client?

*) Can now get paid merely for running a node

No. Get paid for having funds with the payment being proportional to the amount of funds you have. A tax the poor to pay the rich tax system.

*) MicroCash Accounts now gain a form of "interest" which is collected from all network fees and redistibuted to accounts based on their total MicroCash holdings. Increase your MicroCash amount and get more interest

Covered above.

*) Chain donation address added. Send money to this address and it redistributes it evenly to every MicroCash account

Part of the tax/interest system and doesn't make sense for any normal use.

*) Dual signature accounts allowed. Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it.

A good idea, copied from BitCoin.

*) New difficulty retarget algorithm. Looks at the last 12 hours of blocks and works out the average block time for this period. It then adjusts every new block to attempt to meet a 2 minute block time.

That was already listed. A few of the alternate chains tried that, it caused a lot of forked blocks due to everyones clocks being set differently.

*) Transaction fees reduced to a fixed 0.005MC (half cent) for a normal transaction and 0.01 MC for dual signature

Nonsense. We saw how well fixed transaction fees worked with solidcoin. They lead to blockchain abuse.

*) Transaction size is now much smaller, which means we can fit more in a block and have less disk/memory usage

You mean some of the security has been removed by using shorted key lengths. Bad move if you expect this thing to carry on for a few years.

*) An address (pubkey and privkey) is now looked at like an account. Each transaction involves the moving of one balance to another account. No inputs required, fixed transaction size, one signing per transaction maximum with the standard transaction type.

This doesn't appear to make sense. Need more details.

*) There are no physical transactions added to the blockchain as a result of a new block. Instead a new block is treated as 2 separate transactions. One to the creator (who gets 100% of a blocks value) and one to the CPF (that gets 5% of the block value)

Are you saying transactions are not stored in the blockchain? This doesn't make sense. Also the CPF is really RealSolid's personal wallet and the whole concept of a tax on a peer2peer currency is sick and wrong.

*) Block header is now 104 bytes, with room for the address of creator and optimization of other fields

Optimization = reduced security by using shorter block lengths.

*) Address format is now much smaller and easier to read (will be announced at beta)

Again, reduced security by using short key lengths.

*) Custom database engine that is extremely fast at looking up every transaction, every block and every account. Much improved custom database to store all blocks and transactions.

Need more details.

*) Extremely fast transaction/block/account lookup, resulting in less CPU usage running a node.

Due to a reduction in security be reducing key lengths and possibly other security reducing measures.

*) No IRC client needed to find other nodes

BitCoin has been bootstraping from DNS for a long time now. This is just a copy of that mechanism.

*) New C++ codebase that is easy to extend and has been heavily optimized

Strange. I was told it was C#.

*) Easier for businesses and websites to use. Low resource usage. URL Callbacks when their accounts are involved in transactions, no need for constant polling or creating a new address for every customer.

This is nonsense.

*) Transactions are now a fixed size and are also heavily optimized and easy to create for thin clients.

This was covered above. Security had to be reduced by a large amount for this.

*) Improved Proof of Work hash and handling. Now reference previous blocks with a SHA256 to improve disk loading

That doesn't sound like an improvement.

*) Increased mining income to match $1-$2 range instead of $3-4 range

Increased to less? This doesn't make sense.

*) Powerblocks are removed

Good. They were an insane idea.

*) Trust nodes and trust blocks are removed

Good. They were an insane idea.

*) The 10 trust accounts are removed

Good. They were an insane idea. I wonder where those 10 million coins will go though?

*) Improved P2P handling

Yet to be seen.

*) Much shorter address format and new hashing mechanism for them. Accounts store public keys so that once set it's more secure than ripemd160

Covered above. This was brought with a very large reduction in security of the whole system.

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

Ripe for abuse no doubt because there isn't any clear way to do this sensibly.

*) Ability to donate MicroCash to nodes for passing on transactions and blocks

Ability to give away money? What?

*) URL and email callbacks for accounts on a node. Allow developers to get transactions pushed to them instead of constantly polling

A reasonable idea but hardly world changing. Could be done with a small change to BitCoin but most people just write a wrapper around bitcoind.

*) Trading on exchanges will be possible within the client

Which exchanges? Because the only dedicated solidcoin exchange just shut down.

*) Ability to add labels or information to transactions you send to others

That's fairly useful actually.

*) Can create payment codes that clients accept with amount, address and information tags already filled out.

Any website can do that, it's called a form.


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June 12, 2012, 07:23:02 PM
 #87

Mark your calendars folks...  On May 10th, MicroCash will be introduced



Did I miss it?
Huh

Notice they didn't specify which year.

Buy & Hold
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June 12, 2012, 08:18:44 PM
 #88

Mark your calendars folks... On May 10th, MicroCash will be introduced
Did I miss it? Huh

Notice they didn't specify which year.

They also didn't specify to whom it would be introduced. Maybe after the successful closed-source launch of SC2, they decided to run with that and go closed-executable this time. First two months = MicroCash for inner circle members only!

And of course they will need to reimburse these beta testers with special rules or tax money, a policy that will change after public release...
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June 13, 2012, 06:01:57 AM
 #89

You mean some of the security has been removed by using shorted key lengths. Bad move if you expect this thing to carry on for a few years.

The key lengths are not shorter. Bitcoin uses an atrociously inefficient system for moving coins around. MC, if it existed, would presumably be using the account ledger/balance sheet type system over the transaction ledger of bitcoin. This means a standard transaction can be a fixed size, about 150 bytes vs 400-500 bytes on average.

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June 15, 2012, 02:21:45 AM
 #90

Quote
I can verify that notyep is *not* RealSolid.

Okay.  Who is he?

"Money is like manure: Spread around, it helps things grow. Piled up in one place, it just stinks."
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June 15, 2012, 02:52:10 PM
 #91

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June 16, 2012, 04:37:57 AM
 #92

Quote
I can verify that notyep is *not* RealSolid.

Okay.  Who is he?



And @ BitCoin"Slow"lane:  Again, this will be my last post until the MC$ production release.  Grin

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June 16, 2012, 07:02:54 AM
 #93

L A S T .

NO MORE KICKING THE HORSE GUYS. C'MON ALREADY

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https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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June 16, 2012, 07:44:36 AM
 #94

Is there a mailing address for the company behind this product?

"Money is like manure: Spread around, it helps things grow. Piled up in one place, it just stinks."
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June 16, 2012, 12:06:35 PM
 #95

Is there a mailing address for the company behind this product?

No company. No product.

Until there is a release it's nothing but vapor.
LoupGaroux
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June 16, 2012, 05:14:01 PM
 #96

Address:

Dewey, Cheatum & Howe
666 Vaporware Loop
Scamtown, NSW
eAt mE
Australia.

54Gh/s bASIC Bitcoin Mining Devices
Pre-Order Yours Today!     
Only $1069.99 ! @ http://www.BitcoinASIC.com


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bulanula
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June 16, 2012, 05:19:31 PM
 #97

Address:

Dewey, Cheatum & Howe
666 Vaporware Loop
Scamtown, NSW
eAt mE
Australia.

Where did you get my address from mate Huh
sd
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June 16, 2012, 05:44:08 PM
 #98

Address:

Dewey, Cheatum & Howe
666 Vaporware Loop
Scamtown, NSW
eAt mE
Australia.

Where did you get my address from mate Huh

Strange, I thought you were from Manchester, UK.

You should go back to the SolidCoin groupies. You belong with your own kind.
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June 16, 2012, 06:13:08 PM
 #99

Stop kicking the horse guys.....L A S T

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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June 16, 2012, 10:00:00 PM
 #100

Stop kicking the horse guys.....L A S T

You mean Bulanula or MicroCash?



Your friends are calling you back Bulanula.
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