MUST READ !! Read REDD coins whitepaper for the new algorithm they are about to implement: http://www.reddcoin.com/papers/PoSV.pdf
It addresses the major concerns of the POS system.
Topic: [ANN] CommunityCoin (COMM) | Pure PoS | Original COMM MultiPools Coming Soon - page 110. (Read 523929 times)
May 02, 2014, 03:37:15 PM
May 02, 2014, 03:19:51 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
I also dont understand why we would need POW algo like X11
Which are the flaws you are referring?
Generally the cost to do an attack on a fully POS system is minimal.
A wallet can vote for several different generated blocks without any cost of doing so. It is a similar attack vector like 51% attacks in POW, just without the calculation cost.
Mind, you still need a sizeable amount of coins or at least nodes to do such an attack.
Nevertheless, it is without calculation price.
This is new to me! I thought that you could only attack if you would have more than 51% of the coins!
I am not completly sure about every detail. I am sure though, that you don't need 51% of all coins.
Maybe 51% of all minting coins, but never more.
And the minting ones aren't that many after all.
I think the metric more relevant is the amount of nodes you control. A Botnet would have a compareably easy approach on attacking a POS system.
So, POS is far from invincible
wiki say that you need 51% of all coin to do it, but doing so will damage yourself, which is stupid
May 02, 2014, 03:05:46 PM
This coin is dead, no activity going on on the exchanges nobody is buying anymore price dropped to 69.
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
the problem is still one
those damn 200M, no one will buy until those 200M will die once and for all
Stop throwing this shit, 200M coins were blocked forever.
you could bring them back with a client upgrade, only hard fork can ensure that they will never be used
Just to clarify, it is not enough someone change the code and start running the new wallet... Most of the network has to use this new wallet. Besides of this, the wallet is supposed to be lost and if this is true no wallet change would bring those coins back. The fix was only a measure to guarantee if this is not true those coins wouldn't be dumped on any exchange.
Adriano
May 02, 2014, 02:38:54 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
I also dont understand why we would need POW algo like X11
Which are the flaws you are referring?
Generally the cost to do an attack on a fully POS system is minimal.
A wallet can vote for several different generated blocks without any cost of doing so. It is a similar attack vector like 51% attacks in POW, just without the calculation cost.
Mind, you still need a sizeable amount of coins or at least nodes to do such an attack.
Nevertheless, it is without calculation price.
This is new to me! I thought that you could only attack if you would have more than 51% of the coins!
I am not completly sure about every detail. I am sure though, that you don't need 51% of all coins.
Maybe 51% of all minting coins, but never more.
And the minting ones aren't that many after all.
I think the metric more relevant is the amount of nodes you control. A Botnet would have a compareably easy approach on attacking a POS system.
So, POS is far from invincible
May 02, 2014, 02:34:57 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
I also dont understand why we would need POW algo like X11
Which are the flaws you are referring?
Generally the cost to do an attack on a fully POS system is minimal.
A wallet can vote for several different generated blocks without any cost of doing so. It is a similar attack vector like 51% attacks in POW, just without the calculation cost.
Mind, you still need a sizeable amount of coins or at least nodes to do such an attack.
Nevertheless, it is without calculation price.
This is new to me! I thought that you could only attack if you would have more than 51% of the coins!
May 02, 2014, 02:18:23 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
I also dont understand why we would need POW algo like X11
Which are the flaws you are referring?
Generally the cost to do an attack on a fully POS system is minimal.
A wallet can vote for several different generated blocks without any cost of doing so. It is a similar attack vector like 51% attacks in POW, just without the calculation cost.
Mind, you still need a sizeable amount of coins or at least nodes to do such an attack.
Nevertheless, it is without calculation price.
Another problem (which is easier solveable), is the inability to mint with cold storage coins. All the nice interest of 30% is meaningless if you want to put your coins into cold storage.
This is, as I said, a solveable problem though.
It will most likely require a hard fork, but I am not completly sure about that.
May 02, 2014, 02:13:51 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
Just saying, people are complaining again about the missing 200M and are worried they could be brought back by an update.
What I am saying, anything can be manipulated one way or another... no matter what... and for this reason this update (the 200M fix) is pointless as it has already been solved once.
May 02, 2014, 02:11:12 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
I also dont understand why we would need POW algo like X11
Which are the flaws you are referring?
May 02, 2014, 02:07:37 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
Of course. Just tell me. Why?
X11 is a POW algo. Why should it be implemented in a POS system?
Pure POS has a set of serious flaws that need adressing. Migrating to X11 is utterly meaningless.
May 02, 2014, 02:05:25 PM
This looks great to me! Something new and also a fix for the 200M.
I want to add that I am not worried about those 200M but it seems that there still are a lot of people who are. I have seen that this problem is still mentioned in other threads when people are talking about COMM.
Yes, I tried talking about it a couple of times, but this thread is no place for this.
I advertised the forum more than once, but obviously nobody seems too eager to migrate there as well.
A single thread is no place to discuss technical details. It is utterly inefficient und unfruitful.
Skilled people have more to do than read through pages of meaningless conversations. Time is money. In case of skilled workers it is a lot of money. And reading random noises isn't paid.
May 02, 2014, 02:01:59 PM
we can fork and makes it X11 (I am pretty sure it would be possible...)
May 02, 2014, 02:00:03 PM
would be nice to have a fork now. the retracement from 105 sat is getting to critical values.
May 02, 2014, 01:55:59 PM
This looks great to me! Something new and also a fix for the 200M.
I want to add that I am not worried about those 200M but it seems that there still are a lot of people who are. I have seen that this problem is still mentioned in other threads when people are talking about COMM.
May 02, 2014, 01:55:43 PM
This coin is dead, no activity going on on the exchanges nobody is buying anymore price dropped to 69.
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
the problem is still one
those damn 200M, no one will buy until those 200M will die once and for all
Stop throwing this shit, 200M coins were blocked forever.
you could bring them back with a client upgrade, only hard fork can ensure that they will never be used
That is correct! What is the problem?..... DEV, is there a problem ?
I, as a stakeholder, want this shit finished once and for all. And I am willing to put my money where my mouth is. If the dev is incapable of doing a hard fork, the programmer that helped Joel with the coin2 change over is available and will work for shares. A lot of investors just follow the crowd, and right now the crowd sez..."what abut those 200 mill coins?" Everybody can speculate what ever they want... but until those coins are gone forever we ain't going anywhere.
Btw, in C2 they changed the whole coin and swapping was done in exchanges.
May 02, 2014, 01:53:05 PM
This looks great to me! Something new and also a fix for the 200M.
I want to add that I am not worried about those 200M but it seems that there still are a lot of people who are. I have seen that this problem is still mentioned in other threads when people are talking about COMM.
May 02, 2014, 01:51:29 PM
This coin is dead, no activity going on on the exchanges nobody is buying anymore price dropped to 69.
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
the problem is still one
those damn 200M, no one will buy until those 200M will die once and for all
Stop throwing this shit, 200M coins were blocked forever.
you could bring them back with a client upgrade, only hard fork can ensure that they will never be used
That is correct! What is the problem?..... DEV, is there a problem ?
I, as a stakeholder, want this shit finished once and for all. And I am willing to put my money where my mouth is. If the dev is incapable of doing a hard fork, the programmer that helped Joel with the coin2 change over is available and will work for shares. A lot of investors just follow the crowd, and right now the crowd sez..."what abut those 200 mill coins?" Everybody can speculate what ever they want... but until those coins are gone forever we ain't going anywhere.
you killed my eyes with that quote lmao
ME TOO! WHO AM I.... WHERE'S MY CAR?
May 02, 2014, 01:47:33 PM
This coin is dead, no activity going on on the exchanges nobody is buying anymore price dropped to 69.
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
the problem is still one
those damn 200M, no one will buy until those 200M will die once and for all
Stop throwing this shit, 200M coins were blocked forever.
you could bring them back with a client upgrade, only hard fork can ensure that they will never be used
That is correct! What is the problem?..... DEV, is there a problem ?
I, as a stakeholder, want this shit finished once and for all. And I am willing to put my money where my mouth is. If the dev is incapable of doing a hard fork, the programmer that helped Joel with the coin2 change over is available and will work for shares. A lot of investors just follow the crowd, and right now the crowd sez..."what abut those 200 mill coins?" Everybody can speculate what ever they want... but until those coins are gone forever we ain't going anywhere.
you killed my eyes with that quote lmao
ME TOO! WHO AM I.... WHERE'S MY CAR?
May 02, 2014, 01:43:39 PM
This coin is dead, no activity going on on the exchanges nobody is buying anymore price dropped to 69.
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
the problem is still one
those damn 200M, no one will buy until those 200M will die once and for all
Stop throwing this shit, 200M coins were blocked forever.
you could bring them back with a client upgrade, only hard fork can ensure that they will never be used
That is correct! What is the problem?..... DEV, is there a problem ?
I, as a stakeholder, want this shit finished once and for all. And I am willing to put my money where my mouth is. If the dev is incapable of doing a hard fork, the programmer that helped Joel with the coin2 change over is available and will work for shares. A lot of investors just follow the crowd, and right now the crowd sez..."what abut those 200 mill coins?" Everybody can speculate what ever they want... but until those coins are gone forever we ain't going anywhere.
you killed my eyes with that quote lmao
May 02, 2014, 01:42:28 PM
This coin is dead, no activity going on on the exchanges nobody is buying anymore price dropped to 69.
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
I think i whas wrong with this coin, will take that buy wall at 67 if nothing happens soon...
the problem is still one
those damn 200M, no one will buy until those 200M will die once and for all
Stop throwing this shit, 200M coins were blocked forever.
you could bring them back with a client upgrade, only hard fork can ensure that they will never be used
That is correct! What is the problem?..... DEV, is there a problem ?
I, as a stakeholder, want this shit finished once and for all. And I am willing to put my money where my mouth is. If the dev is incapable of doing a hard fork, the programmer that helped Joel with the coin2 change over is available and will work for shares. A lot of investors just follow the crowd, and right now the crowd sez..."what abut those 200 mill coins?" Everybody can speculate what ever they want... but until those coins are gone forever we ain't going anywhere.
please don't to fud tonight, wait tomorrow I might have some interesting coins to sell
May 02, 2014, 01:39:19 PM
The dev should have distributed to wider community rather than choosing who will get the coins
no matter how wide, it would have been, you wouldn't have been included... so this isn't even not your business Jump to: