Topic: [ANN][EMC2] Einsteinium | FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY - page 303. (Read 1076368 times)
July 15, 2014, 01:53:11 PM
If everyone wants it 2 survive so bad and all this noise why does nobody buy a coin or two lol nevermind POS
July 15, 2014, 01:19:12 PM
I urge you all to watch what is happening with vericoin before moving to PoS.
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack that only gives the attacker limited control while they hold 51% of the mining power which in a healthy coin ecosystem is continually growing and supported by new miners.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack that only gives the attacker limited control while they hold 51% of the mining power which in a healthy coin ecosystem is continually growing and supported by new miners.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
If that is true, then the biggest threads are the exchanges since they hold big amounts of coins.
No, the biggest problem is the posibility of a roll-back. Not only vericoin, but every coin. No retailer will ever accept a coin from where a transaction can be rolled back.
No serious investor will ever touch any coin now they know that their investment can be rolled back to block#1.
Now cryptocoins become a gamble, so all we can hope for that gamblers will risk their money.
All of this, thanks to MintPal.... their security is not how it should be. They should be the ones that should pay the theft. Now we know about the possibility of a roll back....it's a bad movie...
July 15, 2014, 11:44:43 AM
I urge you all to watch what is happening with vericoin before moving to PoS.
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack which only gives the attacker limited control while they hold 51% of the mining power.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack which only gives the attacker limited control while they hold 51% of the mining power.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
I understand but emc2 need to do something to survive and the majority of people speaking wish for PoS. Will it change the way Emc2 is seen in the CC sphere, i don't know. Algo switch or switching to PoS doesn't do a thing if nobody knows it exist. People need to use it and right now everything is just a big speculative bubble.
What help emc2 prevent the kind of events that happened to VRC is that a lot of coins are already out, so harder for someone to steal the coins and get 51%. The volume is spread on 3 exchanges so i don't think it could happen to this coin but we never know.
indeed the majority of people will only support an action which benefits themselves in the short term.. this is the problem that politicians in all democracies face when they make policy decisions. Its also why we have such a corrupt and broken fiat system.
this is why I gave up arguing the toss on this forum.. I only posted that statement because real world events have demonstrated very clearly how vulnerable PoS can be.
I would rather see the coin prosper and grow in the longer term but if people are willing to risk that for the sake of short term gains then I wont continue to waste my energy arguing... I'll just check in from time to time with a comment here and there.
ultimately if the majority of people get what the want and the price rises in the short term then people like myself who do not support PoS systems in any large way will have a chance to exit the system.
As much as i want emc2 to survive and grow, i still believe that technicality changes won't do much since we need to be known. This change, it's true, is only for short term gain (i hope i'm wrong). We're supposed to be a science coin, why aren't we contacting science magazines, organizations, etc. to get them involved in the coin? They're the ones that will benefit from this coin.
I really hope the switch will help emc2 but after the switch we will probably see a pump then a dump, sadly. This coin was supposed to be one of a kind, now it will become one of many without nothing to differenciate it.
July 15, 2014, 09:43:47 AM
I urge you all to watch what is happening with vericoin before moving to PoS.
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack which only gives the attacker limited control while they hold 51% of the mining power.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack which only gives the attacker limited control while they hold 51% of the mining power.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
I understand but emc2 need to do something to survive and the majority of people speaking wish for PoS. Will it change the way Emc2 is seen in the CC sphere, i don't know. Algo switch or switching to PoS doesn't do a thing if nobody knows it exist. People need to use it and right now everything is just a big speculative bubble.
What help emc2 prevent the kind of events that happened to VRC is that a lot of coins are already out, so harder for someone to steal the coins and get 51%. The volume is spread on 3 exchanges so i don't think it could happen to this coin but we never know.
indeed the majority of people will only support an action which benefits themselves in the short term.. this is the problem that politicians in all democracies face when they make policy decisions. Its also why we have such a corrupt and broken fiat system.
this is why I gave up arguing the toss on this forum.. I only posted that statement because real world events have demonstrated very clearly how vulnerable PoS can be.
I would rather see the coin prosper and grow in the longer term but if people are willing to risk that for the sake of short term gains then I wont continue to waste my energy arguing... I'll just check in from time to time with a comment here and there.
ultimately if the majority of people get what the want and the price rises in the short term then people like myself who do not support PoS systems in any large way will have a chance to exit the system.
July 15, 2014, 09:31:48 AM
I urge you all to watch what is happening with vericoin before moving to PoS.
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack which only gives the attacker limited control while they hold 51% of the mining power.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack which only gives the attacker limited control while they hold 51% of the mining power.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
I understand but emc2 need to do something to survive and the majority of people speaking wish for PoS. Will it change the way Emc2 is seen in the CC sphere, i don't know. Algo switch or switching to PoS doesn't do a thing if nobody knows it exist. People need to use it and right now everything is just a big speculative bubble.
What help emc2 prevent the kind of events that happened to VRC is that a lot of coins are already out, so harder for someone to steal the coins and get 51%. The volume is spread on 3 exchanges so i don't think it could happen to this coin but we never know.
July 15, 2014, 09:23:26 AM
I urge you all to watch what is happening with vericoin before moving to PoS.
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack that only gives the attacker limited control while they hold 51% of the mining power which in a healthy coin ecosystem is continually growing and supported by new miners.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
over the weekend mintpal was hacked 30% of vericoins (8M) were stolen.
the devs fearing 51% rolled back their blockchain in order to stop the theft.
this has created a huge controversy which can be seen in full detail on the vericoin thread (and the various a news articles)
they did this because if a thief gains 51% of a PoS coin they can have majority control of the coin forever because they can stake and very easily keep creating new coins.
this is not the same thing as a 51% PoW attack that only gives the attacker limited control while they hold 51% of the mining power which in a healthy coin ecosystem is continually growing and supported by new miners.
PoS encourages hoarding and centralization of power more so than PoW...
the effects are amplified the smaller the coin.
I expect in the future we will see more PoS coins suffer from this vulnerability
July 15, 2014, 08:18:53 AM
Great...we recently climed from ~200sat to 75sat. So now we will implement POS (saturday official) . Remember the voting took more then 1 month.
With this lighting speed It will take another 3 months before we go POS, and the value of EMC2 will be at record lows.
I am sorry to say this, but I realy have no trust in the qualities of the "leaders" from EMC2. I am in to EMC2 since 2014-04-06 and we had nice run....but now it's time to say goodbye, EMC2 can't handle the competition.
Thanks and good luck to you all
With this lighting speed It will take another 3 months before we go POS, and the value of EMC2 will be at record lows.
I am sorry to say this, but I realy have no trust in the qualities of the "leaders" from EMC2. I am in to EMC2 since 2014-04-06 and we had nice run....but now it's time to say goodbye, EMC2 can't handle the competition.
Thanks and good luck to you all
Let see the time it'll take to implement PoS first, if it takes too long, you might be right but if it's done in a week. It might be different
July 15, 2014, 05:55:36 AM
Great...we recently climed from ~200sat to 75sat. So now we will implement POS (saturday official) . Remember the voting took more then 1 month.
With this lighting speed It will take another 3 months before we go POS, and the value of EMC2 will be at record lows.
I am sorry to say this, but I realy have no trust in the qualities of the "leaders" from EMC2. I am in to EMC2 since 2014-04-06 and we had nice run....but now it's time to say goodbye, EMC2 can't handle the competition.
Thanks and good luck to you all
With this lighting speed It will take another 3 months before we go POS, and the value of EMC2 will be at record lows.
I am sorry to say this, but I realy have no trust in the qualities of the "leaders" from EMC2. I am in to EMC2 since 2014-04-06 and we had nice run....but now it's time to say goodbye, EMC2 can't handle the competition.
Thanks and good luck to you all
July 15, 2014, 01:14:09 AM
FINAL ALGORITHM VOTE
This will be the final round of voting to decide between PoS (Proof of Stake) or PoW using some Scrypt based mining alternative. Please weigh the options carefully and make sure to vote accordingly. This new vote will be running for 2 1/2 weeks and concluded on Saturday, July 19th. Share the word and let's get as many votes as possible.
Write in votes will be considered and accepted if the member has an actual post history.
So what's it going to be, PoW or PoS? Is that your final answer?
https://bitcointalksearch.org/topic/einsteinium-algorithm-vote-final-decision-for-change-pow-or-pos-676509
Bump.
Why do we need such a long time for the second ballot? These enough time to make a coin dead!
Cause if not someone will cry when it's over
... Get on twitter facebook message about emc2... Make is so the coins not dead don't want for the coinJust a friendly bump to keep people voting. The FINAL announcement will be made on Saturday.
Awesome get your votes in.... watch the price start the slow climb
July 14, 2014, 04:43:38 PM
FINAL ALGORITHM VOTE
This will be the final round of voting to decide between PoS (Proof of Stake) or PoW using some Scrypt based mining alternative. Please weigh the options carefully and make sure to vote accordingly. This new vote will be running for 2 1/2 weeks and concluded on Saturday, July 19th. Share the word and let's get as many votes as possible.
Write in votes will be considered and accepted if the member has an actual post history.
So what's it going to be, PoW or PoS? Is that your final answer?
https://bitcointalksearch.org/topic/einsteinium-algorithm-vote-final-decision-for-change-pow-or-pos-676509
Bump.
Why do we need such a long time for the second ballot? These enough time to make a coin dead!
Cause if not someone will cry when it's over
... Get on twitter facebook message about emc2... Make is so the coins not dead don't want for the coinJust a friendly bump to keep people voting. The FINAL announcement will be made on Saturday.
July 14, 2014, 04:14:03 PM
that rescue coin looks like its ripping emc2 off with ideas, and the dev tried saying 20% premine what a joker
July 13, 2014, 02:38:27 AM
I am an EMC2 fan
Who isn't emc2 fan :-)
holding allready 5 month 100k emc2, i hope its worth holding. 
mined with gpu at home.
mined with gpu at home.
When we go POS now you will earn interest on those coins
July 13, 2014, 02:36:33 AM
holding allready 4 month 100k emc2, i hope its worth holding.
mined with gpu at home.
mined with gpu at home.
July 11, 2014, 11:29:08 PM
I am an EMC2 fan
July 11, 2014, 02:17:28 PM
And we need a multipool, paying in emc2, ready when PoS will be implemented.
That will be no problem. I know a multipool owner who pays twice a day. Mining algo's are scrypt, sha256 and x11 on this moment. He is a devolper himself and rebuilt a big part from the multipool himself. I have been mining on that pool myself and never had any complains
Perfect
Hi, I am the admin of http://gagapool.pw/ , if the devs are interested, please contact me. (And yes I know the website looks crap, the new one is under construction).
July 11, 2014, 02:10:02 PM
And we need a multipool, paying in emc2, ready when PoS will be implemented.
That will be no problem. I know a multipool owner who pays twice a day. Mining algo's are scrypt, sha256 and x11 on this moment. He is a devolper himself and rebuilt a big part from the multipool himself. I have been mining on that pool myself and never had any complains
Perfect
July 11, 2014, 02:06:57 PM
And we need a multipool, paying in emc2, ready when PoS will be implemented.
That will be no problem. I know a multipool owner who pays twice a day. Mining algo's are scrypt, sha256 and x11 on this moment. He is a devolper himself and rebuilt a big part from the multipool himself. I have been mining on that pool myself and never had any complains
July 11, 2014, 01:56:43 PM
And we need a multipool, paying in emc2, ready when PoS will be implemented.
July 11, 2014, 11:37:13 AM
Would it be rediculous ti start working towards the way the poll is heading? At this point a reversal is unlikely and I believe lost time is lost opportunity. (Of course it coukdnt be released BEFORE the poll ends, but at least it could be started...)
July 10, 2014, 09:11:52 AM
whats this news ive heard!? emc2 to be merged with uro as a part of a science project!
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