Bitcoin Forum
September 29, 2022, 02:19:57 AM *
News: Latest Bitcoin Core release: 23.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 ... 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 [80] 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 ... 265 »
  Print  
Author Topic: [ANN][CRW] CROWN (MN-PoS) | Platform | NFT framework | Governance | Masternodes  (Read 316208 times)
defunctec
Legendary
*
Offline Offline

Activity: 1092
Merit: 1000



View Profile
October 22, 2016, 07:10:54 AM
 #1581

Yes I did reply in this thread but it was a request from the manager. No manager should enforce a post in a thread as a part of campaign.
But the again should a manager follow his own rules.

For me Both the campaign as the management whom deliberately chose a new manager are at fault.
For me, CrowCoin, sorry defuntec is a scam.

Sorry, i couldn't dissect an argument from you're utter babbling.

"For me Both the campaign as the management whom deliberately chose a new manager are at fault."

What are you talking about?
He is saying that a signature campaign manager should not force its users to post in a specific thread as part of the campaign.

Also he is saying that you seem to not be following the rules of the campaign, but I don't think you're even in it. lol


For me, CrowCoin, sorry defuntec is a scam.
In english, that is:
Sorry Defunctec, for me, Crowncoin is a scam.

Lol. And what is that "new manager" stuff? heh.

Thanks for the transaction  Tongue

How does asking campaigners to post once a week in the thread make us a scam? (I never asked for this rule, btw).

For the record, I have paid 0 money to the campaign or the management of it, why? No one has yet qualified and the first payment to campaigners is set to this sunday.

When sunday arrives I will check the validity of posts and make sure our outsourced manager is doing his job.
1664417997
Hero Member
*
Offline Offline

Posts: 1664417997

View Profile Personal Message (Offline)

Ignore
1664417997
Reply with quote  #2

1664417997
Report to moderator
1664417997
Hero Member
*
Offline Offline

Posts: 1664417997

View Profile Personal Message (Offline)

Ignore
1664417997
Reply with quote  #2

1664417997
Report to moderator
According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
jamalaezaz
Copper Member
Hero Member
*****
Offline Offline

Activity: 1750
Merit: 531


Sovryn - 300-500% APY on USDT Deposit


View Profile WWW
October 22, 2016, 07:35:16 AM
Last edit: October 22, 2016, 07:48:03 AM by jamalaezaz
 #1582

Yes I did reply in this thread but it was a request from the manager. No manager should enforce a post in a thread as a part of campaign.
But the again should a manager follow his own rules.

For me Both the campaign as the management whom deliberately chose a new manager are at fault.
For me, CrowCoin, sorry defuntec is a scam.

Sorry, i couldn't dissect an argument from you're utter babbling.

"For me Both the campaign as the management whom deliberately chose a new manager are at fault."

What are you talking about?
He is saying that a signature campaign manager should not force its users to post in a specific thread as part of the campaign.

Also he is saying that you seem to not be following the rules of the campaign, but I don't think you're even in it. lol


For me, CrowCoin, sorry defuntec is a scam.
In english, that is:
Sorry Defunctec, for me, Crowncoin is a scam.

Lol. And what is that "new manager" stuff? heh.

Thanks for the transaction  Tongue

How does asking campaigners to post once a week in the thread make us a scam? (I never asked for this rule, btw).

For the record, I have paid 0 money to the campaign or the management of it, why? No one has yet qualified and the first payment to campaigners is set to this sunday.

When sunday arrives I will check the validity of posts and make sure our outsourced manager is doing his job.

Absolutely Correct.
This Sunday, I'll count everyone's posts. check their quality and check the required things. and then I'll update the spreadsheet and sent you you(owner) and you'll (if you want) check every thing separately and if you found I am not doing my job well or I am cheating somehow by denying users payment then you can replace me to another campaign manager.

but One think I would say. any responsible manager will do the same.
As a campaign manager My responsibility is to support the company and make rules which are favour of that company... supporting the spammers and rule breakers is not my work.. if I start caring about rule breaker crybabies my all efforts will go to the toilet..

I am doing my best to support The Crown and The project.

the rules were simple and they were stated there from the first day. I didn't changed any rule at last time and deny any posts..

About that rule of writing a Post in Official thread. I would say I used to add that rule my self (actually all rules are added by me, Owner didn't asked me for even one rule.) as I say as a manager I'll do anything for support of CrownCoin.

and About the Scam of CrownCoin. I would just say one thing.. Just wait for sunday and see. if Qualified users also don't get payment then you are allow to say us scam..
saying someone scam before the time make no sense.
and everyon who know about crowncoin can vouch this is not a scam at any way.


Regards.

.The DeFi for Bitcoin Platform.            ███   ███
           ███   ███
          ███   ███
         ███   ███
        ███   ███
       ███   ███
      ███   ███
     ███   ███
    ███   ███
   ███   ███
  ███   ███
 ███   ███
███   ███
▄  ▄██████████████████████▄  ▄
 ▀▄ ▀████████████████████▀ ▄▀
  ▀█ ▀████▀ ▄▄            █▀
   ▀█▄ ▀█ ████████████▀ ▄█▀
     ██▄ ▀▀▀▀▀▀▀▀▀███  ██
      ███      ▀█▄ ▀ ▄██
       ███▄ ▀█████ ▄███
        ████ ▀██▀ ▄███
         ▀███▄  ▄███▀
          ▀███▄ ▀██▀
            ████▄ ▀
             ████▀
              ▀█▀
SOVRYN███   ███
 ███   ███
  ███   ███
   ███   ███
    ███   ███
     ███   ███
      ███   ███
       ███   ███
        ███   ███
         ███   ███
          ███   ███
           ███   ███
            ███   ███
.300% APY on USDT Deposits.
████████████████████████████
████████████████████████████
████████████████████████████
████████▀▀▄██████▄▀▀████████
███████  ▀        ▀  ███████
██████                ██████
█████▌   ███    ███   ▐█████
█████▌   ▀▀▀    ▀▀▀   ▐█████
██████                ██████
███████▄  ▀██████▀  ▄███████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
████████████████████████████
████████████████████████████
████████████████████████████
Khaan.jamil010
Newbie
*
Offline Offline

Activity: 62
Merit: 0


View Profile
October 22, 2016, 07:51:06 AM
 #1583

waoooo...! wonderfull Crown as logo can be much valuable too..............  Smiley
stonehedge
Legendary
*
Offline Offline

Activity: 1484
Merit: 1000


Decentralize Everything


View Profile
October 22, 2016, 08:06:02 AM
 #1584

We were hoping to pay for a signature to be used when members of the crypto community post in other threads. I didn't expect our thread to be flooded with barely comprehensible cheerleader posts.
jeliman (OP)
Full Member
***
Offline Offline

Activity: 227
Merit: 125


View Profile WWW
October 22, 2016, 08:24:08 AM
 #1585



302 Thrones supernodes online, number growing steadily

TheHiveMind
Member
**
Offline Offline

Activity: 125
Merit: 10


View Profile
October 22, 2016, 05:06:28 PM
 #1586


This isn't as detailed a response as Stonehedge will give, but here's a few problems with PoS..

From
https://cointelegraph.com/news/the-inevitable-failure-of-proof-of-stake-blockchains-and-why-a-new-algorithm-is-needed

Quote
This being said, even if a PoS currency is safe for up to 99.9999999999999999999999999%, someone will eventually get enough stake to manipulate the blockchain.

Here is why:

Quote
"If the rich are more likely to get a block, they are more likely to collect the reward for the block. Every block they get, the richer they become. The richer they become, the more likely they are to collect the reward for a block.

This keeps going on for the life to the cryptocurrency and if the cryptocurrency lives long enough, it will see 51% stake holders, or 91% stake holders, or even 99.91% stake holders. It is only a matter of time."

Thank you, defunctec. We appreciate your response and read through the article. Both POS and POW have their own unique problems, surely. We have more of an issue with POW because of the massive amounts of natural resources it wastes. Our many drones like a clean and happy Earth to live on. How else will we sustain and grow our large population?

The issue with POS is far less significant in our opinions. Yes, it can lead to centralization in the form of one person holding a plethora of coins. At least it's not laying waste to the energy grid & our only home.

Nonetheless, we are extremely interested in the solution that will come to fruition here. We know there are unlikely to be set deadlines as of yet however, is this new protocol being released in stage one of Crown Revolution - before services?

~ The Hive ~
thwglobal010
Newbie
*
Offline Offline

Activity: 51
Merit: 0


View Profile
October 22, 2016, 05:16:40 PM
 #1587

i really like this beautyful Crown looks much nice.... Smiley
crowncoin_knight
Hero Member
*****
Offline Offline

Activity: 805
Merit: 500


View Profile WWW
October 22, 2016, 05:47:10 PM
 #1588



The core team has acquired two key domains for further development of the Crown project:

1. crown.tech - our new website domain to be set up in course of next week
2. crown.cash - key domain to be used in the future as project develops in several directions

All these domains together with all the current crowncoin domains - crowncoin.com, .org, .net etc will be transferred from my possesion to a non profit organization to be set up in London very soon by the core team




sitonmythrone
Full Member
***
Offline Offline

Activity: 180
Merit: 100


View Profile
October 22, 2016, 07:46:14 PM
 #1589

i really like this beautyful Crown looks much nice.... Smiley

oui, elle est tres belle... design does well...

soon crown will moon to 30k after devs capture more crw.

strong dev team

Send SPR Dev Jail NOW
defunctec
Legendary
*
Offline Offline

Activity: 1092
Merit: 1000



View Profile
October 23, 2016, 08:31:31 AM
 #1590



The core team has acquired two key domains for further development of the Crown project:

1. crown.tech - our new website domain to be set up in course of next week
2. crown.cash - key domain to be used in the future as project develops in several directions

All these domains together with all the current crowncoin domains - crowncoin.com, .org, .net etc will be transferred from my possesion to a non profit organization to be set up in London very soon by the core team

We can make good use of those amazing urls.

Just to remind the thread whats still to come, here's
a list of things to look forword to...

New website, with new urls. (In progress)
New wallet look. (In progress)
OP graphics and roadmap (In progress)
Throne monitoring APP (Testing)
Major core updates to both Bitcoin and Dash (In progress)

Once all of this work is completed we can really start to focus on the technical aspect of our plans, our plan is to evolutionise the blockchain forever.
jeliman (OP)
Full Member
***
Offline Offline

Activity: 227
Merit: 125


View Profile WWW
October 23, 2016, 08:52:24 AM
 #1591



The core team has acquired two key domains for further development of the Crown project:

1. crown.tech - our new website domain to be set up in course of next week
2. crown.cash - key domain to be used in the future as project develops in several directions

All these domains together with all the current crowncoin domains - crowncoin.com, .org, .net etc will be transferred from my possesion to a non profit organization to be set up in London very soon by the core team

We can make good use of those amazing urls.

Just to remind the thread whats still to come, here's
a list of things to look forword to...

New website, with new urls. (In progress)
New wallet look. (In progress)
OP graphics and roadmap (In progress)
Throne monitoring APP (Testing)
Major core updates to both Bitcoin and Dash (In progress)

Once all of this work is completed we can really start to focus on the technical aspect of our plans, our plan is to evolutionise the blockchain forever.

thank you for this update defunctec!

ayesha sadiqa
Full Member
***
Offline Offline

Activity: 154
Merit: 100



View Profile
October 23, 2016, 12:01:39 PM
 #1592



Guys lets keep this space clean of any attacks, we need to move forward and discussion has to be constructive not destructive.  Wink
Yeah we have to only discuss the progress of the coin and do not have to care for the fuds. This coin is much stronger as it is running with success from a longer period and will remain forever.

yeah I sa on exchanges it has a very stronger history and is a stronger coin. the newbies are not able to break it. and we can see that the developers are sincere with their project and they are trying hard to give more success to the coin.
yes i a agree with you that the success of this coin is really based on the hard work of the developer, they are really working hard for the success of this project and specially the Signature Campaign is also too much effective in introducing the coin between the people.
defunctec
Legendary
*
Offline Offline

Activity: 1092
Merit: 1000



View Profile
October 23, 2016, 12:46:57 PM
 #1593



Guys lets keep this space clean of any attacks, we need to move forward and discussion has to be constructive not destructive.  Wink
Yeah we have to only discuss the progress of the coin and do not have to care for the fuds. This coin is much stronger as it is running with success from a longer period and will remain forever.

yeah I sa on exchanges it has a very stronger history and is a stronger coin. the newbies are not able to break it. and we can see that the developers are sincere with their project and they are trying hard to give more success to the coin.
yes i a agree with you that the success of this coin is really based on the hard work of the developer, they are really working hard for the success of this project and specially the Signature Campaign is also too much effective in introducing the coin between the people.

The signature campaign has had 0 effect on the price.
tommyj1
Hero Member
*****
Offline Offline

Activity: 1232
Merit: 501



View Profile WWW
October 23, 2016, 02:56:39 PM
 #1594

I'd like to point a special thanks to lucd88 for the info leading me into CRW.

I'm looking forward to the growth of this community, we already got  alot of great names here, some of which i know from other communities.

Kudos to the dev (s) and everyone working hard to make this project a success

Tommy

Minter                       ▄▄▄▄▄▄▄▄▄▄▄
                  ▄▄▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▄▄
               ▄▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▄
            ,▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▄
          ,▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▄
         ▒▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
        ▓▓▓▓▓▓▓▓▓▓▓█▀█▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀█▓▓▓▓▓▓▓▓▓▓▓
       ▓▓▓▓▓▓▓▓▓▓▓▓    █▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓
      █▓▓▓▓▓▓▓▓▓▓▓▓▓▓    ▀▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓
      ▓▓▓▓▓▓▓▓▓▓▓▓▓▓█▓▓▄   ▀▓▀   ▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓
     ▐▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▄     ▄▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓▌
     ╟▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▄ ▄▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓▌
     ▐▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓▌
      ▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓
      ║▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▌
       ▀▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓▓   ▓▓▓▓▓▓▓▓▓▓▓▓
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
         ╙▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
           ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
             ▀█▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
                ▀█▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓█▀
                     ▀▀██▓▓▓▓▓▓▓▓▓██▀▀
||

╓▒▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▒
▒▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓█▀▀▀▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
▓▓▓▓▓▓▓▓▓▓▓▓▓▓         ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▓▓         ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▓▌        ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▓         ▀╜        ╙▀▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▓                      ▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▌                       ▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓                        ▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓         ▓▓▓▓▓▌         ▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▌         ▓▓▓▓▓          ▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓⌐         ▓▓▓▓▓         ╣▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓         ▀█▀▀^         ╫▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▌                      ▒▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓                     ▒▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓                 #▒▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌
▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓
 ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
 ╙▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀
WALLET




                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█




                ▄█████▄   ▄▄
▐█▄           ▄███████████▀
████▄▄       ▐█████████████▀
████████▄▄   ▐████████████
 ████████████████████████▌
▐████████████████████████
 ▀███████████████████████
   ▀████████████████████
   ████████████████████
    ▀█████████████████
      ▄█████████████▀
▄▄▄▄█████████████▀
  ▀▀█████████▀▀
crowncoin_knight
Hero Member
*****
Offline Offline

Activity: 805
Merit: 500


View Profile WWW
October 23, 2016, 04:02:58 PM
 #1595

I'd like to point a special thanks to lucd88 for the info leading me into CRW.

I'm looking forward to the growth of this community, we already got  alot of great names here, some of which i know from other communities.

Kudos to the dev (s) and everyone working hard to make this project a success

Tommy



Thanks for your supportive message - its really great to see the Crown community growing and the idea being spread around!

ShooterXD
Hero Member
*****
Offline Offline

Activity: 924
Merit: 501

CryptoTalk.Org - Get Paid for every Post!


View Profile
October 23, 2016, 04:49:25 PM
 #1596

Portuguese translation at: https://bitcointalk.org/index.php?action=post;board=181.0

All the best to you project!

Regards, Shooter

crowncoin_knight
Hero Member
*****
Offline Offline

Activity: 805
Merit: 500


View Profile WWW
October 23, 2016, 05:12:43 PM
 #1597



Rebranding works from CROWNCOIN to CROWN proceeding fast!

Hope to have the new web including brand new texts running on crown.tech ready mid next week.


defunctec
Legendary
*
Offline Offline

Activity: 1092
Merit: 1000



View Profile
October 23, 2016, 07:09:43 PM
Last edit: October 23, 2016, 07:43:40 PM by defunctec
 #1598

Portuguese translation at: https://bitcointalk.org/index.php?action=post;board=181.0

All the best to you project!

Regards, Shooter

Your link took me to outer space, i think you meant this one  Tongue

https://bitcointalk.org/index.php?topic=1659000.0

I'll send the bounty asap, thanks!

I need your CRW address btw Tongue
LucD88
Hero Member
*****
Offline Offline

Activity: 524
Merit: 510


CrownCentral.net


View Profile
October 23, 2016, 08:09:14 PM
 #1599

I'd like to point a special thanks to lucd88 for the info leading me into CRW.

I'm looking forward to the growth of this community, we already got  alot of great names here, some of which i know from other communities.

Kudos to the dev (s) and everyone working hard to make this project a success

Tommy

Hey buddy, you're very welcome. Good to see you post here, great having you mate! Smiley

Welcome to the club! Cheesy

stonehedge
Legendary
*
Offline Offline

Activity: 1484
Merit: 1000


Decentralize Everything


View Profile
October 24, 2016, 09:22:53 AM
 #1600

The Hive notices that you, Mr. Stone, do not seem to think that the POW protocol is a sustainable one and thus needs an update. There seem to be plausible arguments against POW. However, we have yet to see you state any detailed arguments against POS. We know one of them -- susceptibility to 51% attacks. What are some other issues that you see with POS?

Separately, won't coins that are POW just be able to switch their consensus protocol if it becomes a problem?

~ The Hive ~

I'm not ignoring your question.  I'm just taking a while to think about it.

Thanks for keeping us informed. We figured you might be developing a response to it.

~ The Hive ~

Sorry for the long delay.  I had an unexpected piece of real world work to deliver.  One needs to pay the bills.

Proof of stake in its various flavours has the following problems.

Nothing at Stake Problem (fixed with delegated PoS)

If a PoS chain forks, there is nothing stopping a user staking his/her coins on both chains.

Initial Distribution Problem (solved with hybrid PoW/PoS)


Early purchasers of a coin will always be at an advantage over later investors as their coin balance directly contributes to the growth of their wealth. This advantage is confered to the early investor for as long as they own their stake.  Initial coin distribution by PoW somewhat nullifies this.

Long Range Attack (theoretical)


In theory, somebody with enough computational power could build an alternative blockchain starting from the very first block. Some implementations of PoS solve this by defining the maximum allowed depth of a branching point to a certain number of blocks in the past.  NXT sets the value at 720 blocks/12 hours for example.

Bribe Attack

In this attack, an attacker attempts to double-spend his funds in the following way:

1. Buy some goods or services
2. Wait until the payment transaction is considered confirmed by the merchant
3. Announce a reward for building on top of a truncated blockchain that does not include the payment transaction. For example, if merchant waited for six confirmations, the attacker will start with the blockchain without the six latest blocks. The attacker may offer a larger reward for users that mint only on top of the attacker’s blockchain (without this, the attacker’s blockchain would never catch up to the correct one).
4. The attacker may continue paying bribes even when the lengths of their blockchain and the correct blockchain become equal in order to gain support of most stakeholders.

(Proof of Stake vs Proof of Work Whitepaper - Bitfury - http://bitfury.com/content/5-white-papers-research/pos-vs-pow-1.0.2.pdf)

Coin Age Accumulation Attack

Only relevant to some PoS implementations.  Peercoin famously suffered from this issue but now solved.

In some PoS implementations, coin age is used as the staking metric rather than wallet wealth. If there is no maximum coin age defined in the protocol then it is possible for enought time to lapse for the earliest investors to have enough accumulated coin age to overtake the rest of the network and receive 100% of staking reward.

Some of the above may not be feasible due to required investment size but early investors could be at a significant advantage if intentions are nefarious.

Delegated proof of stake has efectively solved shorter range attacks and the nothing at stake problem but there is no consistency in how PoS coins address these problems. 

There are several active projects that use the earliest implementation of PoS that doesn't address any issues and several PoS projects that have implemented a variety of different fixes to problems with no consistency.  This means that some of these solutions have not been tested on a significant scale to ensure that they stand up to scrutiny.

Due the large variety of issues that need to be solved (admittedly some are theoretical) I don't consider PoS to be cryptographically sound until a uniform approach to solving these issues has been implemented.

In short, Stonehedge thinks "close but no cigar".
Pages: « 1 ... 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 [80] 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 ... 265 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!