Topic: [ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers - page 2124. (Read 3074230 times)

I'm in ! I've invested something in this project

Which will be the exchange where Lisk will be available? (exchange with BTC for example)

I often let my enthusiasm color my words inappropriately. I apologize for that and I thank anybody who gives me a "reality check" when I need it.


The transaction you quote, dated November 23, 2013, occurred after fundraising for NXT was declared over on November 18, 2013.  See:

https://bitcointalksearch.org/topic/m.3620732

On November 20, 2013 the BTC price was $482 and rising rapidly to the "all time high" you speak of, which occurred a week or so thereafter.

https://web.archive.org/web/20131120104851/http://coinmarketcap.com/

So the price of 1 BTC was around $130 when the NXT ICO started on Sept 28, $204 a month later by October 29, and was pushing $480 at the end of the ICO on Nov 18.  The peak of $1000+ came soon thereafter - but that peak was definitely AFTER the end of the NXT ICO.


As you wish.  

Signature campaign is over.

Good luck!

If you don't see the rank member or lower ... I think it means that there isn't any signature for them, so you can't take part to the bounty program (with your signature).

My question has not been answered yet. Isn't anybody here who can answer it?

Where are the richs ?

Are we sure that dev can't run away with ico money?

Take the rich and give to the poor.

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Your message are always in "i know everything mode"

There are a lot of old forum user here also with different name.So don't pretend to be a professor.

So if you like facts this is the NXT ICO wallet :

https://blockchain.info/address/1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a?offset=0&filter=2

and this is one of the nxt ICO transcation:

https://blockchain.info/it/tx/d1d4c0de9338e96f1e60774ea58f8e93b3827be67a3f8c67b8825ce7f41c85d5


as you can see 0.3 BTC was valued 260$ dollar


I hope you know math.

have a nice day

btw i don't want to go off topic so for me the discussione stop here 

Hey, it's all I got! wish me luck!

Check out this ( https://www.reddit.com/r/Lisk/comments/477728/did_anyone_actually_bother_to_google_lisk_it/ ) and my top comment.



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1. US
2. Germany
3. UK
4. Netherlands
5. Russia
6. Brazil
7. Indonesia



There are no silly questions.

Every transaction which involves a blockchain WRITE needs fees, else you can't prevent spam. This is something the dapp dev has to take care of.

If it is in an infinite loop it will simply crash, like any regular apps. The loop can't be blockchain based, due to the fees. But it can be in the front end for example. It's a regular bug and needs to be fixed with an update.

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You assume that the first 51 delegates have less than 33% of all votes. Where you got that number?


Yes, people don't need the majority of coins, but only the majority of votes to have temporary control. This is due to the fact that all Lisk users elect the delegates.

It's not true that you state that no other blockchain system has this weakness. ALL others have this as well, but just in a different aspect.

In the case of Proof of Stake coins, the attacks obviously come back to the amount of coins you own. Therefore you can either take the total of coins you need as an argument and the centrality of the pools.

Nxt: There are currently only 411M NXT forging in "forging pools". 11 of the biggest pools have over 50% of all forging power. Due to only 411M NXT forging, you only need to have a bit over 20.55% of all NXT (411/1000*0,5=0,2055). That means NXT is attackable to 20.55% attacks as far as I see it.

In the case of Proof of Work coins, you can only use the pools hash rate as an argument.

Bitcoin: Individual mining is irrelevant. Pools are the only option. There are currently only a handful of pools with a hash rate worth mentioning. Already the top 2 pools have over 50% of all mining power.

What does that mean? It means that crypto-currencies are more centralized than commonly believed.

But! These numbers are all temporary. Same as with Lisk.

In the case of Nxt, the users can
- remove the NXT lease from the forging pools.
- forge on their own to make the total of all NXT forging going to near 100%.
- withdraw their NXT from exchanges who are exploiting their big stake.

In the case of Bitcoin, the users can
- switch pools
- use P2Pools
- Mine on their own again (questionable)


What does it mean for security? In my opinion Proof of Stake is more secure, due to the financial incentive. Why should anyone attack NXT with his own 20% of coins, for which he paid a big amount of money. Of course this argument is more philosophical than mathematical. In terms of pool power Nxt is more decentralized than Bitcoin. In Lisk case the number of "pools" = delegates are even higher.


Let's get back to Lisk. If an exchange owns so many LISK, the users can at least see and countercheck easily if the exchange is voting with these LISK. It's all visible with this API call:


If you don't know the delegate address of an exchange, only the address of the regular exchange account, then this API call helps you out:


For example on our test network for the delegate 'genesisDelegate52':


Results in:


If an exchange is abusing his power, people can see it and act. In this case they can withdraw the LISK from this exchange (decreasing the voting power of the exchange) and voting with the withdrawn LISK for other delegates (increasing the difference to the exchange even further).



A "51% attack" is just the laymen term. It's in fact a ">50% attack" and every ">50% attack" automatically is a "100% attack" as well, at least practically. If you own the majority of a system, the system is yours.

You are again wrong that this can't be said about other systems.

- At Bitcoin someone who owns 0 BTC can have the most mining power and control the whole system. (It's possible, but unlikely)
- At Nxt someone who owns 0 NXT, but received over 20% of all NXT as leased NXT can control the whole system. (Extremely unlikely)

- However, at Lisk someone with 0 LISK will have it EXTREMELY difficult to find the trust of the community to get enough votes for 51 delegates. That means he needs more votes (LISK amount*10^8) than the 51th delegate received in total from the whole network.  

This is the networks responsibility to vote accordingly and get the best security out of the DPoS system.



This won't work. Everyone would only vote for himself and everyone who owns more than 1% LISK could run at least 1 delegate forever. This is unfair, because nobody else could prevent him from doing so.



How we get more people voting:

We will introduce a "Forging Pool" in the future (as a dapp). Delegates can run them on their nodes and register their delegate account on the sidechain. With this pool the delegates can then distribute a part of their earnings to the voters automatically every X days.

This will create an incentive for users to withdraw funds from the exchanges and vote for trusted individuals. In order to confirm trusted individuals, we will introduce an "Identity Dapp" in the future, in which people can associate their account with an username, real name, social media profiles, photo, and much more.

More information about all this will follow before we launch.

Sorry, the true number was much lower than my $220 estimate - and nowhere near "maximum price of all time".

The NXT ICO started on September 28, 2013:

https://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898

Bitcoin price on October 3, 2013 was $130 :

https://web.archive.org/web/20131005112105/http://coinmarketcap.com/

By October 29, 2013 BTC had popped into the $200+ range that I remember for that time:

https://web.archive.org/web/20131029215827/http://coinmarketcap.com/

Facts.  I love facts.

Crypti spent a year and a half wandering in the wilderness trying to overcome problems with its 10 second blocktime Proof of Time algorithm (which failed) and then switch from a PoC/PoP/PoT reward system (don't ask) to a DPoS delegate system.  By the time the Crypti dev team took its final few months to implement sidechains and dapps (finally - a super great idea!) , the Crypti team was broke (both in purse and in spirit) and falling apart.  

Lisk is not the same plot.  It is going to skip 99% of the drama that ultimately killed Crypti.  

That's not thrue during the nxt ICO the BTC have reached their maximum price of all the time.

There is no such thing as a silly question.

Any dapp code that malfunctions is on a separate sidechain being run on separate servers operated by the dapp owner.  Malfunctions are his problem.  His problems do not affect either the Lisk mainchain or DPoS delegate node network.

You are taking just the successfull projects. There is a chance that lisk will rise, but why should it rise, when crypti also did not rise and fell after the ICO?

The story will repeat as its the same plot.

I support LISK because of the tech and want the team behind LISK success in a one year frame, if they will deliver, making a good promotion and tech job.

Silly technical question. If there is no "gas" as in ETH, how does LISK deals with code that runs forever, or worse locks up in some infinite loop?

Very interesting  data.  I have converted everything to current $415 BTC (yeah, I know, somewhat inaccurate, not "BTC price pop / price drop" adjusted) and added the most important one that you forgot.



NXT is in its twilight.  In mid-2014 it was valued ten times higher than it is now.  And those 21 BTC that started NXT were only about $220 each.

Duh.