Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 911. (Read 2509934 times)

Yeah we certainly don't need to prostitute BC out to any exchange. It's the people's money now. Let the dogs come sniffing - we are ooooon heat!

A major factor around POS is psychology. I mean, I have x amount of coins. The percentage of these coins will remain the same forever if I do not sell them. So, I feel secure that there is no mega-miner that will come and dump his mined coins for quick profit, reducing my percentage. For most of the people, without gigantic hash rates, that's a huge plus.

If it hits $2 I will still eat the same thing I eat every day though when BC hits $100 I will be eating something really fucking expensive, I don't know yet!
Probably fresh crocodile meat!

Oh well, I am sitting here trying not to pay attention to the BC price.  My 6700 stolen coins from Cryptorush would have given me 3.6 BTC profit right now, which for me is actually a substantial amount of money.  Guess we are never gonna see those coins...  
Thanks thieves and Cryptorush for stealing my hard earned cash.  At this point I'd be happy to just get my initial investment back so t least I could pretend it didn't happen :-(

Their loss.

I thought that was their storage for OUR coins on the sites - not theirs. (unless they Gox us, of course...)

It would work as follows:

1.5 factor authentication
Implement a normal Google Authenticator or Authy code into the wallet below your wallet password when you want to do a payment. The Google Authenticator or Authy app exists on your mobile phone. To set it up the wallet needs to display a QR code or manual code during first setup that becomes the secret key between the wallet and your mobile phone. The wallet then just need to calculate the code based on the secret and the algorithm just like it works on the exchanges. The secret key between your wallet QR code and the mobile phone becomes the 2nd key, of which the derivative the changing code is entered into the wallet at payment time. However the secret key also exist in the wallet and therefore could become available to the hacker as well in a similar way than the wallet private key.

2 factor authentication
True 2FA is when the code or response is not entered into the same channel as the password, but is sent via a separate channel (out of band).  For this to work there needs to be a backend server, but since the crypto-currency principle is based on p2p there is no backend server that can match a challenge-response to your wallet payment request. It is however possible to implement true 2FA on the exchanges because currently they all implement just 1.5FA.

If it hits 2$ i'll eat something better

If they own those wallets they own around 10% of the coins. 10% of the coins in the hands of an exchange is not good.
It just screams for people to start manipulating the coin and I don't wanna see this happening with bc.

Too bad we can't trace those

I asked bittylicious about adding Blackcoin last week, and just got this reply:


Seems a bit rude to be honest.

if BC hits 2 dollars i'll eat my hat and change my theory on PoS models. I just don't see how there can be enough money honestly...unless btc hits 700+ maybe idk.

I wonder how those coins are changing hands.
The volume can be only from poeple buying or 70%/30% (buying/dumping) or god knows what numbers.

The share amount of btc thrown around on mintpal is amazing for that exchange. I can't bring myself to think that there were that many coins (BTC) there to buy this up.

I don't think you have to worry about that really... but again - if you use an exchange as a wallet, you're asking for trouble.

On the other hand for an exchange with thousands of accounts to have $2M-3M in the most widely traded coin on the site is nothing.  I would guess a few of the other top ones are Cryptsy.  Just think about it - if there are buys (and sells) of 100-200BTC occuring on MintPal - then the exchange has to have both 100-200BTC and 100-200BTC worth of BC on the exchange at the same time.  Of course this is simply for these two trades to occur, and obviously they also have all of the BTC and BC represented in every other trade.  What was volume yesterday?  Naturally, there isn't that much there as traders move back and forth... but probably a third of the volume is/was stored in MintPal wallets at some point in time.

I only keep what I trade with on there, but it's big enough that just ~2000 people keeping the same amount would fill up those wallets right there... and I'm a tiny minnow in this ocean of whales now.

Awesome I found a litecoin!!

Two-factor authentication is just not applicable in a peer to peer context. Two-factor authentication is for client-server applications. No way.

Right now, it's a POS party and the King leads the way. I think BC success rises all other POS coins too.

Really proud with myself that believed in POS. Really proud to be a part of BC community.

BlackCoin is now 7th on the market cap list at coinmarketcap.com!

Over $3,000,000 in volume the last 24 hours.

As niothor said, who will hold the second key?


...because that is a tough hurdle...

Coin are changing hands this is healthy this is most important thing  in crypto
and in POS system too.More owners greater community more stabilization.
We just can't go in one day in LTC price lvl...but we can with such volume...
really i don't know what the f. is going on now.

But be honest BC under 1$ is still big occasion...

You hit the nail on the head.