[ANN][MIN] Minerals - POS | Developing own anon solution | - page 400.

mitchellmint

legendary

Activity: 1139

Merit: 1000

TRUSTplus Dev

Quote from: amit2007gunjan on June 13, 2014, 10:58:06 AM

Quote from: anarchyx914 on June 13, 2014, 10:48:02 AM

Pretty sure both Polo and Bittrex have already indicated that they are staying away from the coin due to it being closed source for the moment. They might reconsider after PoW is over tho.

Source is available for exchanges.

If you are so sure then give us your source of information.

I can confirm that the Exchanges have been in communication with the Developer.

ChekaZ

legendary

Activity: 1884

Merit: 1005

By the way guys, keep in mind that the devs got min 1% of the total supply, its like instamine just better. The owe all pools and put 1% on every pool, just sad :/

+ they own 100% of the hashingpower so doublespend is possible all time.

Kenta

sr. member

Activity: 420

Merit: 250

Quote from: LiteMine on June 13, 2014, 01:21:55 PM

Quote from: richiela on June 13, 2014, 01:12:09 PM

Since we've inadvertently commented.... I might as well make an official statement. We've stayed pretty quiet on the matter and we normally stay impartial on coins; but Source code available != open source. In this case, we have a scenario where a single entity controls all the hashpower of a coin. This means at any given time, the blockchain can be completely rewritten to anything a malicious entity wanted it to. I'm not saying that is the intention, but from the POV of an exchange, the lack of decentralization adds an extremely high risk to our users and business. Once the hash power is spread around some and we feel the network has its own built in checks and balances is when we'll probably add.

If we are missing something here, please let me know. I'm always the first to admit i don't know everything.

Thanks
richie@bittrex

So no problem adding it once POW is over in 6 days and the wallet is released?

Cool! I like their style! Cool

LiteMine

sr. member

Activity: 380

Merit: 250

Quote from: richiela on June 13, 2014, 01:12:09 PM

Since we've inadvertently commented.... I might as well make an official statement. We've stayed pretty quiet on the matter and we normally stay impartial on coins; but Source code available != open source. In this case, we have a scenario where a single entity controls all the hashpower of a coin. This means at any given time, the blockchain can be completely rewritten to anything a malicious entity wanted it to. I'm not saying that is the intention, but from the POV of an exchange, the lack of decentralization adds an extremely high risk to our users and business. Once the hash power is spread around some and we feel the network has its own built in checks and balances is when we'll probably add.

If we are missing something here, please let me know. I'm always the first to admit i don't know everything.

Thanks
richie@bittrex

So no problem adding it once POW is over in 6 days and the wallet is released?

richiela

hero member

Activity: 937

Merit: 1000

Quote from: anarchyx914 on June 13, 2014, 01:03:39 PM

Good explanation as to why Bittrex wont add this:

<@bittrex-rami> I don't like the concept
<@bittrex-rami> I don't want to encourage it
<@bittrex-rami> and source doesn't protect me from double spends
<@bittrex-rami> distributed hash does
What do you mean by distrubtuted hash?
*distributed
<@bittrex-rami> if anyone is in a position to do a 51% attack
<@bittrex-rami> then I want to know about it, and disable that wallet
<@bittrex-rami> the way they've structured their launch
<@bittrex-rami> they control 100% of the hash
<@bittrex-rami> puts us at risk
yea, but they seem trust worthy, right RIGHT
<@bittrex-rami> now our systems would detect the first double spend and shut ti down
What is this 51% attack
<@bittrex-rami> but it could still hurt me if the first batch of double spends was large enough

Since we've inadvertently commented.... I might as well make an official statement. We've stayed pretty quiet on the matter and we normally stay impartial on coins; but Source code available != open source. In this case, we have a scenario where a single entity controls all the hashpower of a coin. This means at any given time, the blockchain can be completely rewritten to anything a malicious entity wanted it to. I'm not saying that is the intention, but from the POV of an exchange, the lack of decentralization adds an extremely high risk to our users and business. Once the hash power is spread around some and we feel the network has its own built in checks and balances is when we'll probably add.

If we are missing something here, please let me know. I'm always the first to admit i don't know everything.

Thanks
richie@bittrex

zedomax

newbie

Activity: 47

Merit: 0

i think its better off not being on an exchange at this time unless it was poloniex or bittrex. i would take that ccex exchange off asap it only makes the coin look like shitcoin when u have it on 3rd tier exchanges. i see a ton of new coins that go downhill by starting with the wrong exchange. why dont u do a poll and decide what the community wants to do. but at this point i m ready to jump ship.

anarchyx914

sr. member

Activity: 338

Merit: 251

Good explanation as to why Bittrex wont add this:

<@bittrex-rami> I don't like the concept
<@bittrex-rami> I don't want to encourage it
<@bittrex-rami> and source doesn't protect me from double spends
<@bittrex-rami> distributed hash does
What do you mean by distrubtuted hash?
*distributed
<@bittrex-rami> if anyone is in a position to do a 51% attack
<@bittrex-rami> then I want to know about it, and disable that wallet
<@bittrex-rami> the way they've structured their launch
<@bittrex-rami> they control 100% of the hash
<@bittrex-rami> puts us at risk
yea, but they seem trust worthy, right RIGHT
<@bittrex-rami> now our systems would detect the first double spend and shut ti down
What is this 51% attack
<@bittrex-rami> but it could still hurt me if the first batch of double spends was large enough

virtualdn

legendary

Activity: 1358

Merit: 1093

Paper Wallet!

http://coinok.pw/wallet/min/

Please test with small amount first - then check balance at http://explorer.minerals.pro/

nfox

sr. member

Activity: 462

Merit: 250

Transfers are fast, quite impressive

virtualdn

legendary

Activity: 1358

Merit: 1093

paper wallet launching very soon

Minerals

member

Activity: 84

Merit: 10

Minerals Dev

Quote from: Amph on June 13, 2014, 12:36:45 PM

Quote from: Amph on June 13, 2014, 10:19:52 AM

i want to know a thing dev

can the same user run 100mh/s in two different pools(2 x 50 mh/s) or he get banned? you check the ip?

could you answer my question plz?

as of now there is no restriction for that. However we keep a close eye on different ways to circumvent 50 Mh/s limit.
We are not checking the IPs across different pools. We might incorporate this limitation in the future, however I doubt it will be done.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Amph on June 13, 2014, 10:19:52 AM

i want to know a thing dev

can the same user run 100mh/s in two different pools(2 x 50 mh/s) or he get banned? you check the ip?

could you answer my question plz?

Minerals

member

Activity: 84

Merit: 10

Minerals Dev

Quote from: anarchyx914 on June 13, 2014, 11:02:45 AM

Quote from: amit2007gunjan on June 13, 2014, 10:58:06 AM

Quote from: anarchyx914 on June 13, 2014, 10:48:02 AM

Pretty sure both Polo and Bittrex have already indicated that they are staying away from the coin due to it being closed source for the moment. They might reconsider after PoW is over tho.

Source is available for exchanges.

If you are so sure then give us your source of information.

Making the source open to exchanges does not mean that its open source... I'm sure they are reluctant to add because the community has not had the chance to review it for several days.

The source code is available to anyone who is knowledgeable enough to inspect it and give his/her opinion.
Releasing the source code publicly would mean Multipools/Big farms/etc will start mining the coin and the whole idea behind Minerals will be killed in one shot.

Kenta

sr. member

Activity: 420

Merit: 250

Quote from: WalkerLi on June 13, 2014, 12:13:03 PM

Quote from: northwind6 on June 13, 2014, 12:03:22 PM

Quote from: qunity3d on June 13, 2014, 11:51:19 AM

There is information on whether it will add Bittrex and when?

Probably never.

why, it seems a nice coin.

Perhaps they don't have balls to stand up against Dedicated?

WalkerLi

full member

Activity: 238

Merit: 100

hello world, hello crypto

Quote from: northwind6 on June 13, 2014, 12:03:22 PM

Quote from: qunity3d on June 13, 2014, 11:51:19 AM

There is information on whether it will add Bittrex and when?

Probably never.

why, it seems a nice coin.

northwind6

newbie

Activity: 37

Merit: 0

Quote from: qunity3d on June 13, 2014, 11:51:19 AM

There is information on whether it will add Bittrex and when?

Probably never.

qunity3d

member

Activity: 100

Merit: 10

There is information on whether it will add Bittrex and when?

Bojcha

hero member

Activity: 848

Merit: 500

Quote from: mfqrs3 on June 13, 2014, 10:41:22 AM

There is problems with SCV pool ? They don't seem to find any blocks in last 20min, and the diff has gone down ? Fork ?

Just one unlucky block..

anarchyx914

sr. member

Activity: 338

Merit: 251

Quote from: amit2007gunjan on June 13, 2014, 10:58:06 AM

Quote from: anarchyx914 on June 13, 2014, 10:48:02 AM

Pretty sure both Polo and Bittrex have already indicated that they are staying away from the coin due to it being closed source for the moment. They might reconsider after PoW is over tho.

Source is available for exchanges.

If you are so sure then give us your source of information.

Making the source open to exchanges does not mean that its open source... I'm sure they are reluctant to add because the community has not had the chance to review it for several days.

amit2007gunjan

sr. member

Activity: 378

Merit: 250

Quote from: anarchyx914 on June 13, 2014, 10:48:02 AM

Pretty sure both Polo and Bittrex have already indicated that they are staying away from the coin due to it being closed source for the moment. They might reconsider after PoW is over tho.

Source is available for exchanges.

If you are so sure then give us your source of information.

Topic: [ANN][MIN] Minerals - POS | Developing own anon solution | - page 400. (Read 742176 times)