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Topic: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation - page 14. (Read 88376 times)

hero member
Activity: 560
Merit: 500
Your claim of lies is exaggerated...flim flam fnurgle

Quote from: leocoin.org

Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

Which part of that explicit claim is *Not* an outright lie?

"We have managed to make LEOcoin a truly anonymous digital currency"

Bollocks.


http://explorer.leocoin.org/address/LLH3y3GzRnQ1AR43Hwssyk3RiKaCnjEaxF

Tell me, who is owning these LEOcoins?
legendary
Activity: 2240
Merit: 1254
Thread-puller extraordinaire
Your claim of lies is exaggerated...flim flam fnurgle

Quote from: leocoin.org

Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

Which part of that explicit claim is *Not* an outright lie?

"We have managed to make LEOcoin a truly anonymous digital currency"

Bollocks.
hero member
Activity: 560
Merit: 500
You were the one making claims about how the pre-mine supposedly protected the network from 51% POW attack, I merely pointed out that assertion was false. Or, to use the dreaded vulgar vernacular, that assertion was indeed bollocks.

So what about the continued lies about anonymity?

Any response yet on why this coin has always been, and is still being, touted as possessing the 'holy-grail' tech of complete anonymity when it clearly does not and never has?

@cryptodevil

good point, I will look into this. Some level of anonymity will be present, I suppose, but not complete anonymity, after all, the internet is involved ...

You said you'd look into why it was being touted as such, did you?

Your claim of lies is exaggerated. Most, if not all transactions on the internet can be traced back to IP addresses. What you call lies is your assessment based on your view on the meaning of anonymity. I already stated that in my opinion pseudonymity would be a better fit, but when someone can pay without mentioning their name, place, etc. most persons would regard this as anonymous. You obviously don't, which you may, yet lies is too strong a verdict. I will address changing the website statement once again, I am sure it is still on someone's to do list.
sr. member
Activity: 288
Merit: 250
You were the one making claims about how the pre-mine supposedly protected the network from 51% POW attack, I merely pointed out that assertion was false. Or, to use the dreaded vulgar vernacular, that assertion was indeed bollocks.

So what about the continued lies about anonymity?

Any response yet on why this coin has always been, and is still being, touted as possessing the 'holy-grail' tech of complete anonymity when it clearly does not and never has?

@cryptodevil

good point, I will look into this. Some level of anonymity will be present, I suppose, but not complete anonymity, after all, the internet is involved ...

You said you'd look into it why it was being touted as such, did you?

Dont waste your time on Leocoin Foundation, he is not capable of answering, he will just write a long text saying nothing and not answering your question.
legendary
Activity: 2240
Merit: 1254
Thread-puller extraordinaire
You were the one making claims about how the pre-mine supposedly protected the network from 51% POW attack, I merely pointed out that assertion was false. Or, to use the dreaded vulgar vernacular, that assertion was indeed bollocks.

So what about the continued lies about anonymity?

Any response yet on why this coin has always been, and is still being, touted as possessing the 'holy-grail' tech of complete anonymity when it clearly does not and never has?

@cryptodevil

good point, I will look into this. Some level of anonymity will be present, I suppose, but not complete anonymity, after all, the internet is involved ...

You said you'd look into why it was being touted as such, did you?
hero member
Activity: 560
Merit: 500
The question is whether you are intentionally making this claim in order to wave off questions about the pre-mine or you are being fed this excuse by the people who hold the pre-mine.

I am not being fed excuses: the premine is distributed amongst the LEO community members, as mentioned so many times by now. Most of them even have no idea what premine is, nor can they setup cgminer of build a rig. With the coming POS it will even become easier to get new LEOcoins, as only a wallet is needed to let it stake.

Whether or not you are comfortable with the premine explanation from LEO Ltd. or not, does not bother me. Repeating your own scepsis does not render it true. As you, I have to rely on statements and explanations from other persons and companies, so it is a matter of trust. I have reasons to trust, you apparently not. The question is whose trust is justified. That we will see in the course of the year.

hero member
Activity: 560
Merit: 500
LOL "LEOcoin Foundation" is speechless what to do now defend pre-mine or what..


Speechless or sleeping ....
legendary
Activity: 966
Merit: 1001
LOL "LEOcoin Foundation" is speechless what to do now defend pre-mine or what..
legendary
Activity: 2240
Merit: 1254
Thread-puller extraordinaire
And you can find an explanation from rat4 on how he successfully attacked POS/POW Mintcoin here:

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.

Why do you think Mintcoin switched to pure PoS? Your claim that a botnet can't fork the network because of the pre-mine is false. The question is whether you are intentionally making this claim in order to wave off questions about the pre-mine or you are being fed this excuse by the people who hold the pre-mine.

So, again, why is Leocoin still claiming this, six months after I challenged you on it?
Quote
Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

You can evade the issue by saying you didn't write that, but as "The Leocoin Foundation" you are basically choosing to ignore a fraudulent claim being made to the general public on the actual leocoin.org website!

hero member
Activity: 560
Merit: 500
You again miss the point, it does not require a 'stake' to mine a PoW block. There is no requirement for PoS in a POW/POS hybrid. So if a botnet has >51% hashing power it can double-spend and pretty much dictate the blockchain. How does this pre-mine 'protect' the blockchain from this? Answer: It doesn't, so stop saying it does.

LEOcoin uses a mixed/hybrid proof-of-stake/proof-of-work mechanism: voting power is determined by combining (multiplicatively) your hashrate and stake; meaning that 51% of the total wealth (stake) and 51% of the network hashpower (mining) would be required to create and maintain a fork. You can find a forum discussion thread here: https://bitcointalksearch.org/topic/proof-of-stake-68213



legendary
Activity: 2240
Merit: 1254
Thread-puller extraordinaire

You again miss the point, it does not require a 'stake' to mine a PoW block. There is no requirement for PoS in a POW/POS hybrid. So if a botnet has >51% hashing power it can double-spend and pretty much dictate the blockchain. How does this pre-mine 'protect' the blockchain from this? Answer: It doesn't, so stop saying it does.


Quote from: leocoin.org
Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

You said this fraudulent claim would be removed when I first challenged you on it, but there it still is.

Yes, sorry, but we are busy with other things. At least LEOcoin is not less pseudonymous as others. And, fyi, I did not write that copy.

Hey, Leocoin Foundation, care to explain how this amazing coin achieves this?
Quote
Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

Because true anonymity is an awfully difficult thing to achieve and the Leocoin github hasn't been updated in over a year, which would surely mean that hidden in its cut-and-paste code is the holy grail of anonymity?

I'm betting it isn't.

You've been that busy for the last six months you couldn't possibly spare any time to address the outright fraudulent lies being spouted on your coin's .org website?

If you cannot communicate in a normal way, without vulgar expressions, you soon can join the 'late parrot group' of users that no longer get a response because they got rude.

It is painfully obvious to anybody else witnessing this conversation that you are desperately clinging to the "if you can't speak nicely then I will ignore you" dishonest response to questions you don't like.

hero member
Activity: 560
Merit: 500
Seeing as you're insisting on making an arse of yourself when it comes to failing to understanding the technology, why the fuck is this still on the leocoin website when I already told you months ago it was bullshit or, seeing how upset you get about the use of vulgar expression,  an outright fucking lie?

Maybe you suffer from 'partialism' or 'coprolalia', but it is entirely your problem dude. If you cannot communicate in a normal way, without vulgar expressions, you soon can join the 'late parrot group' of users that no longer get a response because they got pathologically rude.
hero member
Activity: 560
Merit: 500
Quote from: leocoin.org
Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

You said this fraudulent claim would be removed when I first challenged you on it, but there it still is.

Yes, sorry, but we are busy with other things. At least LEOcoin is not less pseudonymous as others. And, fyi, I did not write that copy.
hero member
Activity: 560
Merit: 500
Stake? Leocoin is proof-of-work, why are you bringing 'staking' into this when discussing the, alleged, botnet?

Seeing as you're insisting on making an arse of yourself when it comes to failing to understanding the technology, why the fuck is this still on the leocoin website when I already told you months ago it was bullshit or, seeing how upset you get about the use of vulgar expression,  an outright fucking lie?


LEOcoin is still a POW/POS hybrid. Two recent coin creations:

POW - 20 LEOcoins block reward: http://explorer.leocoin.org/block/00000001c5e84d8d8eeeaacb6a9720fef15c9611d8d0c51a68488f8096d98f9c
POS - 4.7 LEOcoin POS interest: http://explorer.leocoin.org/block/0b13f67ec091769e0a80afbb585d85caadf7cac19d694f13973496bc687e1c70
legendary
Activity: 2240
Merit: 1254
Thread-puller extraordinaire
Stake? Leocoin is proof-of-work, why are you bringing 'staking' into this when discussing the, alleged, botnet?

Seeing as you're insisting on making an arse of yourself when it comes to failing to understanding the technology, why the fuck is this still on the leocoin website when I already told you months ago it was bullshit or, seeing how upset you get about the use of vulgar expression,  an outright fucking lie?

Quote from: leocoin.org
Through the use of advanced cryptography and encryption methods, we have managed to make LEOcoin a truly anonymous digital currency, in contrast to others which are anonymous only on a superficial level.

You said this fraudulent claim would be removed when I first challenged you on it, but there it still is.

hero member
Activity: 560
Merit: 500
the premine prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

*raises hand*

Ummm, I'd just like to point out . . .that's bollocks.

As you were, whatever it is you're pretending to do in this thread.

Please explain why having over 50% of the stake would be 'bollocks' (vulgar slang) when it comes to situations where someone would get over 50% of the POW hash rate?
legendary
Activity: 2240
Merit: 1254
Thread-puller extraordinaire
the premine prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

*raises hand*

Ummm, I'd just like to point out . . .that's bollocks.

As you were, whatever it is you're pretending to do in this thread.
hero member
Activity: 560
Merit: 500
Today LEOcoin Founders Dan Andersson and Atif Kamran are at the DSA Conference 2016, with LEO Ltd. as Gold Sponsor of event, flying the flag for LEOcoin.

You can find them in the East Midlands Conference Centre & Orchard Hotel, Nottingham. (Only for DSA members).

Website: http://conference.dsa.org.uk/
sr. member
Activity: 420
Merit: 250
http://www.leocoinapp.com/
In few days when POS start then all will be diffrent story! Hope POS start this month finally!👍🏼💶💵💷💸
hero member
Activity: 560
Merit: 500
>> (Yes, we all know it is not listed on CoinMarketCap's frontpage, but with a calculator anyone can see how much 72806240.030627 LEOcoinx 0,2735$ is.)
Reminder: That includes 50,000,000 premined coins.  Cheesy Cheesy Cheesy

Correct, there has been a premine of 50,000,000 LEOcoins. They have been distributed as stated by Dan Andersson in the interview that was exclusively made for this thread.

The good thing about the premine, besides that 10,000,000 of them are now held by the LEOcoin Foundation, is that it prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

Even when 51%-attacks are perhaps a mere theoretical exercise, currently Bitcoin and the two chinese mining pools with a combined total of over 51% is in a less fortunate situation.

Could you explain how premine prevents 51% POW attack? Thanks.  Wink

I have not stated, that premine prevented 51% POW attacks, but that the premine prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

There have been several attacks on LEOcoin, I presume, just as there have been DDOS attacks on most pools, except for one and also on exchanges that sell/sold LEOcoin.
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