Yes or no, is BC vulnerable to 51% attack or not?
Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1165. (Read 2509934 times)
mgburks77 does this disappoint you? https://bitcointalksearch.org/topic/security-analysis-of-powpos-hybrids-with-low-pow-reward-551861
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.
This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.
And who in their right mind will spend 1.25 million dollars to buy half of the blackcoins in existence to perform a 51% attack that will render their investment equal to zero?
This is NOT 'the same exact attack vector', stop spreading FUD over here and show me where exactly do you see 51 attack in the following text posted by rat4:
'Attack I
It is possible to build sequential chain of PoW blocks to confirm a transaction. Only 4 blocks for Mintcoin and 10 for SHACoin.
Is it hard to orphan the chain of PoW blocks?
One PoS block is enough. In both Mintcoin and SHACoin one PoS block may orphan a few millions of PoW blocks.
If at the same time the main chain will get a competing stake, attacker's chain can be enlarged with PoW.
This dramatically increases chance to success in comparison to pure PoW attack.
Ability to confirm a transaction and then orphan confirmations is ability to double spend.
Summary: double spend attack requires 1 PoS block and low hashing power.
Visualization: https://i.imgur.com/Pyrw75q.png
Attack II
Current implementation of stake miner gives up if median time of last blocks is in future.
This temporarily makes the whole network PoW-only and opens well known 51% PoW attack.
Attacker needs only 6 of 11 last blocks.
Successfully tested on Mintcoin: no PoS blocks from 203231 up to 203441, more than 1 hour of real time.'
BlackCoin Rewards Card Update!!!
I just finished making a cup of coffee when I received this wonderful email!
-------------------------------------------------------------------------
Hiredacted,
Thank you for the follow up email.
Based on the information you had provided, we can certainly submit your account request to our issuing bank to see if we can get the reward and incentive program approved. This would need to be a non-reloadable co-branded card program based on your card needs.
Does this work? Would you like to proceed with the account set up process?
Many Thanks,
redacted
-------------------------------------------------------------------------
Yesterday I sent her a follow up email after not hearing back from her, and I also sent her more information on a few idea changes to make it easier to get approved. I am not going to post my idea changes publicly because it has come to my attention that another community is trying to copy our efforts. Imitation is the best form of flattery
This was a major hurdle to overcome because they do not just submit to the issuing bank unless they are fairly confident it will be approved. I want to point out this does not mean we are approved, but the BlackCoin Rewards Card is closer to becoming a reality!
I think I am going to add a little Mint cream in my Black Coffee
I just finished making a cup of coffee when I received this wonderful email!
-------------------------------------------------------------------------
Hi
Thank you for the follow up email.
Based on the information you had provided, we can certainly submit your account request to our issuing bank to see if we can get the reward and incentive program approved. This would need to be a non-reloadable co-branded card program based on your card needs.
Does this work? Would you like to proceed with the account set up process?
Many Thanks,
-------------------------------------------------------------------------
Yesterday I sent her a follow up email after not hearing back from her, and I also sent her more information on a few idea changes to make it easier to get approved. I am not going to post my idea changes publicly because it has come to my attention that another community is trying to copy our efforts. Imitation is the best form of flattery
This was a major hurdle to overcome because they do not just submit to the issuing bank unless they are fairly confident it will be approved. I want to point out this does not mean we are approved, but the BlackCoin Rewards Card is closer to becoming a reality!
I think I am going to add a little Mint cream in my Black Coffee
mgburks77 does this disappoint you? https://bitcointalksearch.org/topic/security-analysis-of-powpos-hybrids-with-low-pow-reward-551861
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.
This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.
Every decentralized system can be taken over by 51% of the votes within the network .... this is a fundamental property: Something is true, if the majority says its true!
Well, looking at filosophy. If the majority votes for something, this doesn't automatically means that that's the best option ^^.
I think many countries face this in their politics; many votes go to partys which are rubbish. ^^
mgburks77 does this disappoint you? https://bitcointalksearch.org/topic/security-analysis-of-powpos-hybrids-with-low-pow-reward-551861
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.
This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.
Every decentralized system can be taken over by 51% of the votes within the network .... this is a fundamental property: Something is true, if the majority says its true!
Yes, that is my point
mgburks77 does this disappoint you? https://bitcointalksearch.org/topic/security-analysis-of-powpos-hybrids-with-low-pow-reward-551861
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.
This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.
Every decentralized system can be taken over by 51% of the votes within the network .... this is a fundamental property: Something is true, if the majority says its true!
I just want to make a little post to remind people to remove what they don't need on the exchanges off the exchanges with BlackFriday coming.
If people want to post pictures from Game of Thrones I'm all for it, but remember. It will be WAR. The barbarians will be coming and we should be resilient to them trying to ransack the exchanges.
If people want to post pictures from Game of Thrones I'm all for it, but remember. It will be WAR. The barbarians will be coming and we should be resilient to them trying to ransack the exchanges.
mgburks77 does this disappoint you? https://bitcointalksearch.org/topic/security-analysis-of-powpos-hybrids-with-low-pow-reward-551861
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Soepkik just mentioned that blackcoin is vulnerable to 51% attack, there is your proof.
This is the same exact attack vector that they claim mintcoin is vulnerable to so that's just FUD since they also say that 51% attack is highly unlikely when asked about it in reference to blackcoin.
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I also like this coin, but I hesitate to buy it. There is this issue with BC stolen from (or better to say "by") Cryptorush. If there are so many coins in thieves´ hands, it could destroy such a small market. I do not want to spread FUD, but I did not notice any update on this topic recently. I will be happy if somebody persuades me that this is not a problem.
ps.
Maybe it is related to this, maybe not, but there is clear market manipulation on Mintpal with big buy or sell walls appearing and disappearing.
Those stolen coins seems to have been dumped a short time after it occurred if I remember right what happened to the market this day
And there is market manipulation in EVERY coins, nothing new ?
Plus they were stolen by about 25 different people.
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I also like this coin, but I hesitate to buy it. There is this issue with BC stolen from (or better to say "by") Cryptorush. If there are so many coins in thieves´ hands, it could destroy such a small market. I do not want to spread FUD, but I did not notice any update on this topic recently. I will be happy if somebody persuades me that this is not a problem.
ps.
Maybe it is related to this, maybe not, but there is clear market manipulation on Mintpal with big buy or sell walls appearing and disappearing.
Those stolen coins seems to have been dumped a short time after it occurred if I remember right what happened to the market this day
And there is market manipulation in EVERY coins, nothing new ?
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I also like this coin, but I hesitate to buy it. There is this issue with BC stolen from (or better to say "by") Cryptorush. If there are so many coins in thieves´ hands, it could destroy such a small market. I do not want to spread FUD, but I did not notice any update on this topic recently. I will be happy if somebody persuades me that this is not a problem.
ps.
Maybe it is related to this, maybe not, but there is clear market manipulation on Mintpal with big buy or sell walls appearing and disappearing.
mgburks77 does this disappoint you? https://bitcointalksearch.org/topic/security-analysis-of-powpos-hybrids-with-low-pow-reward-551861
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Why are you here? You know that most people also read other threads, right? Proof or be gone!
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
The only sensible attack known right now is getting 51% of the coinsupply. The big problem with this is you'd need a huge amount of capital, and if you break it it'll be lost.
There are some other theories floating around and we are always checking up on those. We are one of the first real PoS-only coins so security matters a lot for us and we are actively checking up on things.
Can you please tell me about some of those other theories? Maybe a post link? thanks anyway for your reply!
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
The only sensible attack known right now is getting 51% of the coinsupply. The big problem with this is you'd need a huge amount of capital, and if you break it it'll be lost.
There are some other theories floating around and we are always checking up on those. We are one of the first real PoS-only coins so security matters a lot for us and we are actively checking up on things.
correct me if I am wrong but a 51% attack is precisely what you claimed made mintcoin vulnerable to attack
Please explain why BC is not vulnerable to this attack but supposedly mintcoin is?
Also be careful leaving the wallet open to stack, in my opinion anyway.
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
The only sensible attack known right now is getting 51% of the coinsupply. The big problem with this is you'd need a huge amount of capital, and if you break it it'll be lost.
There are some other theories floating around and we are always checking up on those. We are one of the first real PoS-only coins so security matters a lot for us and we are actively checking up on things.
Ok so i tend to like this coin just because it seems like it kills other shitcoins and because community seems great. So i am buying a few.
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
I would like to ask about security problems. How can this coin be attacked. Since it is only PoS i think it cant be attacked with 51% . But what are some attacks that can work on BC?
Please dont respond with "no attack much security great coin" comments...
Yesterday I made the suggestion that the "Buy BlackCoin" section on BlackCoin.co should be moved above the fold. In less than 24 hours it was done!!! The dev and this community is one of the best if not the best.
If you are waiting to buy BlackCoin you better get it now while it is still cheap. Because this dev and community are the real deal and this coin is only going to increase in value.
Bravo to Rat4 and the BlackCoin community!!!
If you are waiting to buy BlackCoin you better get it now while it is still cheap. Because this dev and community are the real deal and this coin is only going to increase in value.
Bravo to Rat4 and the BlackCoin community!!!
* Soepkip points to his donation address
* Soepkip points to rat4's donation address
just send you a small donation,
but what is rat4's address
B8gZqgY4r2RoEdqYk3QsAqFckyf9pRHN6i
thats his address
rat4 should post his personal address by himself, I'm also interested in donating to him!
He did. Read the OP.
Quote from: rat4
Donate
Please donate to further developement B8gZqgY4r2RoEdqYk3QsAqFckyf9pRHN6i
Please donate to further developement B8gZqgY4r2RoEdqYk3QsAqFckyf9pRHN6i
Yesterday I made the suggestion that the "Buy BlackCoin" section on BlackCoin.co should be moved above the fold. In less than 24 hours it was done!!! The dev and this community is one of the best if not the best.
If you are waiting to buy BlackCoin you better get it now while it is still cheap. Because this dev and community are the real deal and this coin is only going to increase in value.
Bravo to Rat4 and the BlackCoin community!!!
If you are waiting to buy BlackCoin you better get it now while it is still cheap. Because this dev and community are the real deal and this coin is only going to increase in value.
Bravo to Rat4 and the BlackCoin community!!!
* Soepkip points to his donation address
* Soepkip points to rat4's donation address
just send you a small donation,
but what is rat4's address
B8gZqgY4r2RoEdqYk3QsAqFckyf9pRHN6i
thats his address
rat4 should post his personal address by himself, I'm also interested in donating to him!
Yesterday I made the suggestion that the "Buy BlackCoin" section on BlackCoin.co should be moved above the fold. In less than 24 hours it was done!!! The dev and this community is one of the best if not the best.
If you are waiting to buy BlackCoin you better get it now while it is still cheap. Because this dev and community are the real deal and this coin is only going to increase in value.
Bravo to Rat4 and the BlackCoin community!!!
If you are waiting to buy BlackCoin you better get it now while it is still cheap. Because this dev and community are the real deal and this coin is only going to increase in value.
Bravo to Rat4 and the BlackCoin community!!!
i agree with you and respect BC team and community, but nothing can go up without fall, 100% must go down before go up again, who sell his coins at 7300 want to buy again cheaper, dump will come, expect Sunday at 6pm (always happening at 6 pm)
I never make promises I can't deliver on, but I promise you after Weds you will no longer be able to get BlackCoin for these low prices. The community gave me the tools to be able to effectively promote BlackCoin, and I will deliver on my promise. I spent over 10 years learning how to promote my products on a very limited budget, and I am going to use the skills to help the BlackCoin community. Also, I have a few things in the works to coincide with our press release on Weds. So yes it might dip a bit before next Weds, but after next Weds BlackCoin will continue to rise in value. So everyone who is selling their coins cheap this week will be kicking themselves next week.
Good work and best to you...
Thanks!
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