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k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: coblee on November 25, 2011, 04:02:42 PM

Quote from: Spacy on November 25, 2011, 02:20:38 PM

Quote from: makomk on November 25, 2011, 01:41:05 PM

Quote from: k9quaint on November 25, 2011, 01:26:57 PM

You are assuming the control nodes run the public client. I doubt any code changes need to be made at all.

Actually, I'm assuming the trusted nodes aren't running the publicly-released source because that's what RealSolid said; if they were, then they'd be just as happy to let him convert the entire 12 million SC trustfund balances into spendable coins as any other node.

Because they already run new code with the amount restriction in it? A new version will be released, then everybody has the fix.

You found a critical bug in the source code? No worries, it's already fixed in the trusted node code. RealSolid just didn't have time to release the actual source yet. And by the way, the trusted nodes are also running code that has all bugs and exploits fixed... even the ones that have not been found yet.

I fully trust RealSolid. Don't you?

Well, the 12 million being spendable isn't actually a bug since RS runs the control nodes and he wants to be able to spend it at some point. The bug was people finding out about them being spendable, and that is why we don't need source for the "fix". We just have to "believe". Grin

coblee

donator

Activity: 1654

Merit: 1350

Creator of Litecoin. Cryptocurrency enthusiast.

Quote from: Spacy on November 25, 2011, 02:20:38 PM

Quote from: makomk on November 25, 2011, 01:41:05 PM

Quote from: k9quaint on November 25, 2011, 01:26:57 PM

You are assuming the control nodes run the public client. I doubt any code changes need to be made at all.

Actually, I'm assuming the trusted nodes aren't running the publicly-released source because that's what RealSolid said; if they were, then they'd be just as happy to let him convert the entire 12 million SC trustfund balances into spendable coins as any other node.

Because they already run new code with the amount restriction in it? A new version will be released, then everybody has the fix.

You found a critical bug in the source code? No worries, it's already fixed in the trusted node code. RealSolid just didn't have time to release the actual source yet. And by the way, the trusted nodes are also running code that has all bugs and exploits fixed... even the ones that have not been found yet.

I fully trust RealSolid. Don't you?

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: Spacy on November 25, 2011, 02:20:38 PM

Quote from: makomk on November 25, 2011, 01:41:05 PM

Quote from: k9quaint on November 25, 2011, 01:26:57 PM

You are assuming the control nodes run the public client. I doubt any code changes need to be made at all.

Actually, I'm assuming the trusted nodes aren't running the publicly-released source because that's what RealSolid said; if they were, then they'd be just as happy to let him convert the entire 12 million SC trustfund balances into spendable coins as any other node.

Because they already run new code with the amount restriction in it? A new version will be released, then everybody has the fix.

You know this how?

Spacy

full member

Activity: 168

Merit: 100

Quote from: makomk on November 25, 2011, 01:41:05 PM

Quote from: k9quaint on November 25, 2011, 01:26:57 PM

You are assuming the control nodes run the public client. I doubt any code changes need to be made at all.

Actually, I'm assuming the trusted nodes aren't running the publicly-released source because that's what RealSolid said; if they were, then they'd be just as happy to let him convert the entire 12 million SC trustfund balances into spendable coins as any other node.

Because they already run new code with the amount restriction in it? A new version will be released, then everybody has the fix.

makomk

hero member

Activity: 686

Merit: 564

Quote from: k9quaint on November 25, 2011, 01:26:57 PM

You are assuming the control nodes run the public client. I doubt any code changes need to be made at all.

Actually, I'm assuming the trusted nodes aren't running the publicly-released source because that's what RealSolid said; if they were, then they'd be just as happy to let him convert the entire 12 million SC trustfund balances into spendable coins as any other node.

k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: makomk on November 25, 2011, 07:27:17 AM

Quote from: k9quaint on November 24, 2011, 05:09:55 PM

Don't forget the fact that these 10 accounts are controlled by a single entity (RS). The coins that back them are only "unspendable" for the moment, that could change with any release of new code. In fact, there is no way the peasant nodes of Solidcoin can enforce any rules on the control nodes or the block chain.

Worse, it's actually the other way around - until new code is released, the ~12 million coins in those accounts are not in fact "unspendable" at all. The current trusted nodes should reject any attempts to spend them, but RS or anyone else that gets control of those 10 accounts can set up their own trusted nodes that will approve this and the rest of the nodes should go along with it.

Edit: Of course even once this is changed it can be changed back again in a future release.

You are assuming the control nodes run the public client. I doubt any code changes need to be made at all.

makomk

hero member

Activity: 686

Merit: 564

Quote from: k9quaint on November 24, 2011, 05:09:55 PM

Don't forget the fact that these 10 accounts are controlled by a single entity (RS). The coins that back them are only "unspendable" for the moment, that could change with any release of new code. In fact, there is no way the peasant nodes of Solidcoin can enforce any rules on the control nodes or the block chain.

Worse, it's actually the other way around - until new code is released, the ~12 million coins in those accounts are not in fact "unspendable" at all. The current trusted nodes should reject any attempts to spend them, but RS or anyone else that gets control of those 10 accounts can set up their own trusted nodes that will approve this and the rest of the nodes should go along with it.

Edit: Of course even once this is changed it can be changed back again in a future release.

Starlightbreaker

legendary

Activity: 1764

Merit: 1006

Quote from: bulanula on November 24, 2011, 05:22:39 PM

Quote from: ?? on ??

Quote from: PatrickHarnett on November 23, 2011, 03:57:07 PM

Quote from: bulanula on November 23, 2011, 10:17:29 AM

Quote from: ?? on ??

I love how easy is to jerk the chains of Coinhunter. With a couple of post I brought most his personalities out on one page. In this thread we have heard from Coinhunter, Spacy, Psytard, Bulanula and FlipPro.

Now all I need to complete this collection of inbreds is for Viper Lemon Bitch and Clipse to drop by.

You really must be a woman : your short term memory sucks.

I thought we already established that I am no longer a SC fanboy Wink

?

Well, maybe there was a long weekend. and Clipse appears on page two (and got quoted).

Guess I over looked Clipse and YES he is that meaningless.

Still waiting to get doxxed BCX Roll Eyes

.

waiting her to dox you?

don't hold your breath, lol.

bulanula

hero member

Activity: 518

Merit: 500

Quote from: ?? on ??

Quote from: PatrickHarnett on November 23, 2011, 03:57:07 PM

Quote from: bulanula on November 23, 2011, 10:17:29 AM

Quote from: ?? on ??

I love how easy is to jerk the chains of Coinhunter. With a couple of post I brought most his personalities out on one page. In this thread we have heard from Coinhunter, Spacy, Psytard, Bulanula and FlipPro.

Now all I need to complete this collection of inbreds is for Viper Lemon Bitch and Clipse to drop by.

You really must be a woman : your short term memory sucks.

I thought we already established that I am no longer a SC fanboy Wink

?

Well, maybe there was a long weekend. and Clipse appears on page two (and got quoted).

Guess I over looked Clipse and YES he is that meaningless.

Still waiting to get doxxed BCX Roll Eyes

.

k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: dayfall on November 24, 2011, 04:46:10 PM

Quote

A trusted node in SolidCoin is a node which has a significant amount of SolidCoins (at least one million) in a special account. This account is used to "sign" a trusted transaction block to say that this person with a lot invested in SolidCoin agrees with the previous block.

But the 10 accounts that have 1.2M coins have unspendable coins. There is no investment. Nothing to lose (other than control). If there ever was another account that had 1M coins that were actually spendable, then that huge investment is dwarfed by the out-of-thin-air coins. So, SC's reasoning doesn't make sense. By allowing these fake coins to make a node trusted, he has broken his own system.

Don't forget the fact that these 10 accounts are controlled by a single entity (RS). The coins that back them are only "unspendable" for the moment, that could change with any release of new code. In fact, there is no way the peasant nodes of Solidcoin can enforce any rules on the control nodes or the block chain.

The only question is, will the value of a Solidcoin reach the point where RS decides to monetize the control coins?

dayfall

sr. member

Activity: 312

Merit: 250

Quote

A trusted node in SolidCoin is a node which has a significant amount of SolidCoins (at least one million) in a special account. This account is used to "sign" a trusted transaction block to say that this person with a lot invested in SolidCoin agrees with the previous block.

But the 10 accounts that have 1.2M coins have unspendable coins. There is no investment. Nothing to lose (other than control). If there ever was another account that had 1M coins that were actually spendable, then that huge investment is dwarfed by the out-of-thin-air coins. So, SC's reasoning doesn't make sense. By allowing these fake coins to make a node trusted, he has broken his own system.

PatrickHarnett

hero member

Activity: 518

Merit: 500

Quote from: bulanula on November 23, 2011, 10:17:29 AM

Quote from: ?? on ??

I love how easy is to jerk the chains of Coinhunter. With a couple of post I brought most his personalities out on one page. In this thread we have heard from Coinhunter, Spacy, Psytard, Bulanula and FlipPro.

Now all I need to complete this collection of inbreds is for Viper Lemon Bitch and Clipse to drop by.

You really must be a woman : your short term memory sucks.

I thought we already established that I am no longer a SC fanboy Wink

?

Well, maybe there was a long weekend. and Clipse appears on page two (and got quoted).

k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: Spacy on November 23, 2011, 02:22:58 AM

Quote from: ?? on ??

Quote from: k9quaint on November 22, 2011, 11:19:13 PM

Since RS controls the control nodes and the control nodes control the block chain and the block chain controls the currency, RS controls the currency. At a whim, he could undo transactions and lock wallet addresses out of the system.

He's already proven that.

You can "undo" transaction in EVERY cryptocurrency by overwriting a block by remining it, nothing new here.

The new part is that a single person can. Whoever hacks into their box would also have absolute power over Solidcoin, so it won't be one person forever.

Quote from: Spacy on November 23, 2011, 02:22:58 AM

But how would to lock out a wallet? No proof? That's your usual way, accusations and then post some excuse or "It has alreay been proven.", but no facts Grin

It is been made abundantly clear that you can neither read code, nor write it. So hush up while the adults talk.
The simplest way to lock a given wallet out of the currency would be to have the control nodes overwrite every block with a transaction to or from that wallet address, thus preventing it from spending, receiving or mining. Those actions can be taken in piecemeal or in concert.

bulanula

hero member

Activity: 518

Merit: 500

Quote from: ?? on ??

I love how easy is to jerk the chains of Coinhunter. With a couple of post I brought most his personalities out on one page. In this thread we have heard from Coinhunter, Spacy, Psytard, Bulanula and FlipPro.

Now all I need to complete this collection of inbreds is for Viper Lemon Bitch and Clipse to drop by.

You really must be a woman : your short term memory sucks.

I thought we already established that I am no longer a SC fanboy Wink

?

luv2drnkbr

hero member

Activity: 793

Merit: 1026

Quote from: Solidcoin wiki

This concept allows SolidCoin to be protected against 51% mining attacks, in fact, even if 99% of the network is malicious, they cannot do anything but slightly delay the rate transactions are accepted.

I know a group of people in New York who would say that if 99% have no power, it's not really a fair system.

CoinHunter

sr. member

Activity: 252

Merit: 251

Quote from: Spacy on November 23, 2011, 02:22:58 AM

Quote from: ?? on ??

Quote from: k9quaint on November 22, 2011, 11:19:13 PM

Since RS controls the control nodes and the control nodes control the block chain and the block chain controls the currency, RS controls the currency. At a whim, he could undo transactions and lock wallet addresses out of the system.

He's already proven that.

You can "undo" transaction in EVERY cryptocurrency by overwriting a block by remining it, nothing new here.

Wait what... you expect these guys to even know how Bitcoin works? Let alone SolidCoin which is even more complicated? Come on, too much credit Tongue

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: freequant on November 23, 2011, 04:32:48 AM

Quote from: CoinHunter on November 22, 2011, 08:26:37 AM

If you're a smart businessman, you know what will be the leading online currency going forward.

Wait.. What does ~~Litecoin and~~ Bitcoin have to do with this story?

FTFY

Litecoin! FFS...

freequant

hero member

Activity: 770

Merit: 500

Quote from: CoinHunter on November 22, 2011, 08:26:37 AM

If you're a smart businessman, you know what will be the leading online currency going forward.

Wait.. What do Litecoin and Bitcoin have to do with this story?

Spacy

full member

Activity: 168

Merit: 100

Quote from: ?? on ??

Quote from: k9quaint on November 22, 2011, 11:19:13 PM

Since RS controls the control nodes and the control nodes control the block chain and the block chain controls the currency, RS controls the currency. At a whim, he could undo transactions and lock wallet addresses out of the system.

He's already proven that.

You can "undo" transaction in EVERY cryptocurrency by overwriting a block by remining it, nothing new here. But how would to lock out a wallet? No proof? That's your usual way, accusations and then post some excuse or "It has alreay been proven.", but no facts Grin

k9quaint

legendary

Activity: 1190

Merit: 1000

Quote from: Clipse on November 22, 2011, 03:28:26 PM

If I could be multiple flies I would sure as shit think deathandtaxes and bitcoinexpress is the same pmsing mongtroll.

If anyone still take bitcoinexpress seriously after this thread(cant fking believe why they would before it) then it just shows why bitcoin value is popping to shit since there has to be a bunch of retarded fkheads killing the price cause its "LOLFUNNYWAHAHA" to do it.

A poster child for Solidcoin supporters?

Roll Eyes

Since RS controls the control nodes and the control nodes control the block chain and the block chain controls the currency, RS controls the currency. At a whim, he could undo transactions and lock wallet addresses out of the system. Even if RS was the most altruistic and trusted saint mankind has ever known, the person who hacks his Windows computer might not be. That person would have full control over the entire system.

When one man controls a currency, it can end up like this:

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